Cyprus ranks second among the 27 member states of the European Union in terms of economic growth for 2025, according to revised National Accounts data. As Government Spokesperson Konstantinos Letympiotis stated in a written statement, the Cypriot economy recorded 4.8% growth, compared to 1.4% in the EU and 1.2% in the Eurozone, remaining in the top two spots in the European rankings for the third consecutive year.
The Government Spokesperson also noted that this strong growth trajectory is reflected in a 15% increase in median earnings, emphasizing that the government’s goal is for economic growth to translate into higher incomes, a stronger welfare state, and an improved standard of living for citizens.
ΣΧΕΤΙΚΑ ΑΡΘΡΑ
The statement reads as follows:
According to today’s revised National Accounts data, Cyprus is a leader in European growth. For the third consecutive year, it ranks among the two fastest-growing economies in the EU, with growth of 6.0% in 2023 (up from 3.6%), 6.6% in 2024 (up from 3.9%), and 4.8% in 2025 (up from 3.8%). Compared to the rest of Europe in 2025, the Cypriot economy is projected to grow by 4.8%, compared to just 1.4% in the European Union and 1.2% in the Eurozone. In other words, it is growing at a rate more than three times the European average, ranking second among the 27 member states. In 2024, Cyprus ranks first in the European Union and second in 2023. In other words, three consecutive years at the top of European performance rankings, despite successive international economic and geopolitical challenges. This development highlights the resilience, dynamism, and significant prospects of our economy, and these results reflect the expansion of our productive base, the substantial investments being made in the country, the attraction of new business ventures, and the confidence of international investors. At the same time, they strengthen our fiscal position, improve public debt indicators, and expand the government’s capacity to provide meaningful support to society.
The economy’s momentum is also reflected in the 15% increase in median wages, demonstrating the tangible social impact of strong growth. Economic progress creates more and better job opportunities, fosters the creation of better-paying jobs, boosts incomes, and lays the groundwork for a higher standard of living.
This is the true value of growth: to create more wealth, better wages, greater economic security, and more opportunities for citizens.
As a government, we are harnessing the economy’s momentum to boost disposable income, provide more substantial support to families, strengthen the welfare state, and create better prospects for the younger generation.
Cyprus is achieving results that place it at the forefront of European growth. And our goal is to transform this momentum into even greater progress and prosperity for society as a whole.
With a clear plan, fiscal responsibility, and determination, we continue to build on our achievements, setting even higher goals.
Consistently. Responsibly. Resolutely.
For a Cyprus that moves forward.
