Nicosia, Cyprus. State-owned telecommunications provider Cyta presented its 2026 budget to the House finance and budget committee, highlighting investment in digital infrastructure, profitability and network resilience. Separately, Cystat reported strong annual retail growth, while Petrolina said it completed its acquisition of ExxonMobil Cyprus.
Cyta 2026 budget and performance
Cyta on Monday presented its 2026 budget focused on digital infrastructure investment to the House finance and budget committee, outlining stable profitability, network resilience and a continued expansion of next-generation technologies.
The budget places strong emphasis on major investments in digital infrastructure, profitability and resilience, positioning Cyta as a central pillar of Cyprus’ digital economy.
“This is a budget of responsibility and continuity,” Cyta chair Maria Tsiakka told the committee, describing it as “a budget built on tangible financial results and a specific investment plan that delivers direct benefits to citizens, businesses and the Cypriot economy.”
Tsiakka said the primary objective was ensuring uninterrupted operation and continuous upgrading of critical digital infrastructure across the Republic of Cyprus.
She said 2025 was a year of intense activity for the organisation, during which total revenues rose from €415 million in 2024 to €442 million.
Retail trade growth in December 2025
Retail trade in Cyprus, excluding motor vehicles, recorded strong annual growth, according to a report by the Cyprus Statistical Service (Cystat).
Cystat said the turnover value index of retail trade increased by 5.8 per cent in December 2025 compared with the corresponding month of the previous year.
During the same month, the turnover volume index of retail trade rose by 8.9 per cent on an annual basis.
The figures indicate that retail sales volumes grew faster than values, suggesting increased consumer activity during the period.
Petrolina acquisition of ExxonMobil Cyprus completed
Petrolina (Holdings) Public Limited has completed the acquisition of ExxonMobil Cyprus Limited, with the transaction finalised at the end of January 2026, the company said in a filing to the Cyprus stock exchange (CSE).
What do these developments indicate about investment and consumer activity in Cyprus?
