Cyprus Times

SOAC: Drought is the Biggest Risk to the Economy

Published February 9, 2026, 12:13
SOAC: Drought is the Biggest Risk to the Economy

A survey by the Council of Economic and Competitiveness of Cyprus (SOAC) has shown that prolonged drought and water scarcity are the biggest risk to the Cypriot economy. The survey, conducted for the fourth consecutive year, also highlighted cyberattacks, worsening climate conditions, lack of skilled personnel and failure of digital transformation as significant risks. The severity of the consequences remains stable for all risks, however, the probability of risks related to institutional resilience and structural changes is considered increased, indicating the need for preventive measures.