Nicosia, Cyprus. Cyprus’ public debt fell to its lowest percentage of GDP since 2008 in 2025, as the country posted its fourth consecutive fiscal surplus. President Nikos Christodoulides attributed the debt reduction to what he called a responsible fiscal policy.
Debt and fiscal balance
Christodoulides said on Friday on X that public debt had reached its lowest percentage of GDP since 2008, adding that this was particularly significant in the current geopolitical situation.
According to preliminary data published by the statistical service (Cystat) on March 3, Cyprus recorded a fiscal surplus of €939.2 million in 2025, or 2.6 per cent of GDP, down from €1.44 billion, or 4.1 per cent of GDP, in 2024.
The 2025 result marked the fourth consecutive year of fiscal surplus and the second-best fiscal performance of the past 17 years, behind only 2024 and slightly below the 2.7 per cent recorded in 2022.
Basic payment accounts proposals
Plans to provide very small businesses with access to payment accounts with basic features are expected to go before parliament’s plenary, as ministries, the Central Bank of Cyprus (CBC) and commercial banks continue to raise objections.
The House commerce committee on Thursday concluded discussion on two legislative proposals tabled by MPs Costas Costas, Giannakis Gavriel and Andreas Pasiourtidis, after examining them for about three years.
The first proposal would bring very small businesses under the framework governing basic payment accounts and introduce rules on the transparency and comparability of related bank charges.
The second proposal would prevent banks from refusing a consumer’s application for a basic payment account solely because the person already holds such an account at another credit institution.
Invest Cyprus annual meeting
Invest Cyprus on Friday presented results and actions for 2024 and 2025 at its annual general meeting, highlighting the strengthening of Cyprus’ international investment position and the growing contribution of foreign investors to the national economy.
What impact do you think the proposed basic payment account changes could have on very small businesses?