Philenews

KEVE President: Realistic Planning and Targeted Reforms Needed for 2026 EU Presidency

Published December 29, 2025, 08:19
KEVE President: Realistic Planning and Targeted Reforms Needed for 2026 EU Presidency

The president of the Cyprus Chamber of Commerce and Industry (KEVE), Stavros Stavrou, emphasizes the need for realistic planning and targeted reforms in anticipation of Cyprus's assumption of the EU Council Presidency in 2026. Despite the positive trajectory of the Cypriot economy, he warns against complacency and stresses that today's success does not guarantee tomorrow's. Cyprus will preside over three important EU Council formations, dealing with critical issues such as energy, industry, competition, and international trade relations. Stavrou points out that preparation for the Presidency requires at least several months and a deep understanding of the challenges facing the EU. KEVE places particular emphasis on tax reform, considering it a historic opportunity to upgrade Cyprus's competitiveness. It proposes a modern tax system that rewards productivity, innovation, and extroversion, while simultaneously reducing bureaucracy and uncertainty. Furthermore, the need for economic diversification is highlighted, with a focus on industry, exports, and high value-added services, as well as investments in areas such as the green economy and digitalization. Maintaining prudent fiscal policy is considered essential for economic stability and social cohesion.