Nicosia, Cyprus. The Central Bank of Cyprus lowered its growth forecasts for 2026 and 2027, citing the impact of the war in the Middle East and warning that risks remain tilted to the downside. In related developments this week, Eurobank presented a €1 billion technology investment strategy in Athens, while the 5th Digital Cyprus Conference 2026 was held in Nicosia.
Central Bank of Cyprus revises forecasts
In its June 2026 economic bulletin, the Central Bank of Cyprus said it now expects GDP to grow by 2.5 per cent in 2026, down from the 2.7 per cent forecast in March.
Growth in 2027 was also revised lower to 2.9 per cent from 3 per cent, while the economy is expected to accelerate to 3.1 per cent in 2028.
The central bank said the relatively limited impact on this year’s forecast was because some conservative estimates had already been incorporated in the March projection round.
It warned that “the main downside risks to GDP” are linked to the possible non-finalisation or non-implementation of the agreement announced between the United States and Iran.
Eurobank presents Banking Forward strategy
Eurobank this week presented its new Banking Forward strategy in Athens, outlining a €1 billion technology investment programme alongside a broader digital banking transformation centred on artificial intelligence, mobile banking and redesigned customer journeys for retail and business clients.
The event took place on June 29 at the Eurobank Campus Conference Centre in Nea Ionia in the presence of chairman George P. Zanias and deputy chief executives Constantinos Vassiliou, Iakovos Giannaklis and Stavros Ioannou.
The programme outlined how the bank is using technology, data, artificial intelligence and a modern digital architecture to create a more personalised, simpler and more efficient banking experience.
At the centre of the strategy is what Eurobank described as the largest technology investment programme in its history, with approximately €1 billion earmarked for the 2025 to 2028 period to strengthen infrastructure, cloud technologies, data capabilities, artificial intelligence and new digital services.
Digital Cyprus Conference held in Nicosia
The 5th Digital Cyprus Conference 2026 was held this week in Nicosia, bringing together senior business executives, government representatives, technology professionals and internationally renowned speakers.
Organised by the Cyprus Information Technology Enterprises Association and IMH, the conference focused on the transformation of the modern business environment through artificial intelligence and digital technologies, which are creating new growth opportunities for businesses and organisations.
