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DBRS: Confirms Positive Trajectory of Cypriot Economy

Published March 14, 2026, 09:21
DBRS: Confirms Positive Trajectory of Cypriot Economy

The DBRS rating agency confirmed the rating of the Cypriot economy at 'A' with a stable outlook, recognizing its positive trajectory. The report states that Cyprus' GDP increased by 3.8% in 2023, while public finances show surpluses and public debt fell to 60.6% of GDP in September 2023. However, it warns that recent hostilities in the Middle East are increasing uncertainty for Cyprus' short-term economic prospects, especially for tourism. In addition, a possible prolonged increase in energy prices may affect household purchasing power. President Christodoulides and Finance Minister Makis Keravnos positively commented on the rating, emphasizing the resilience and credibility of the Cypriot economy.