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‘Responsible fiscal policy delivers results,’ the President of the Republic, Nikos Christodoulides wrote in a post on X regarding the revised estimate by the Statistical Service for the 2024 GDP growth rate at 3.9%.

‘Responsible fiscal policy, free from populism and empty promises, delivers results. The GDP revision confirms that the economy remains strong and is expected to record growth of 3.5%-3.9% in 2025, with public debt below 60% of GDP,’ the President noted.

The growth rate of the economy in 2024 is positive and is estimated at 3.9% in real terms, according to a revised estimate published on Monday by the Cyprus Statistical Service.

At current prices, the percentage change in Gross Domestic Product (GDP) amounts to 7.2%.

According to CYSTAT, regarding the production approach for the estimation of GDP in real terms, the positive growth rate is mainly attributed to the sectors: ‘Information and communication’, “Hotels and Restaurants”, ‘Construction’ and ‘Wholesale and retail trade; repair of motor vehicles and motorcycles’.

GDP in real terms in 2024 stood at pound 29,419.9 billion. In current prices, GDP was at pound 34,770.2 billion.

After one and a half year of continuous and coordinated effort by the Cyprus Aviation Association and the Cyprus Chamber of Commerce and Industry a major initiative has been successfully completed and implemented, allowing – under strict conditions – the entry of trainee pilots and aircraft mechanics into Cyprus under student status.

This development recognizes Cyprus’ potential as a leading aviation training hub, aligning the country with the rest of the European Union. Until recently, Cyprus was the only EU member state without a relevant framework allowing aviation trainees to obtain student visas.

The new scheme marks a significant milestone for Cyprus aviation, strengthening the nation’s reputation, international visibility, and competitiveness in aviation education. It also creates new opportunities for flight schools, the local economy, and the skilled workforce of Cyprus.

The President of the Cyprus Aviation Association, Mr. Antonis Christodoulides, expressed his sincere appreciation to the Deputy Minister of Migration, Mr. Nikolas Ioannides, and the staff of the Deputy Ministry of Migration and International Protection for their dedication and efforts in advancing the ‘Visitor Programme’. He also extended thanks to the Ministry of Interior and the Department of Civil Aviation for their close cooperation and contribution.

The Cyprus Chamber of Commerce and Industry played a pivotal role in bringing this initiative to fruition as stated Mr. Christodoulides ‘This development it is an investment in the future of Cyprus’ aviation education and a proof that through collaboration and vision, we can achieve meaningful reforms for the benefit of all,’.

The Association is under the auspices of the CCCI with Mr. Zacharias Manitaras, Senior Officer, serving as Executive Secretary.

Gaza, the EU budget, and the Daphne Caruana Galizia Prize for Journalism are some of the highlights of the European Parliament plenary meeting in Stasbourg this week.

In a key debate on Tuesday morning, MEPs and Commission representatives will discuss the recent Middle East peace agreement and the role of the EU. No resolution will be voted on.

On Wednesday, the European Parliament will vote about its position on next year’s annual budget before talks with EU governments begin. The debate will take place on Tuesday. The Budgets Committee has voted to restore the pound 1.3 billion for key programmes cut by EU governments compared with the Commission’s draft budget.

MEPs are also expected to confirm new EU driving licence rules, introducing provisions on novice drivers, vulnerable road users and driving disqualification.

In a debate on Wednesday, MEPs will discuss possible additional measures to end all energy imports from Russia and close loopholes through third countries. In a separate debate, they will discuss a ‘reparations loan’ to fund Ukraine’s reconstruction and defence.

The winner of the annual Daphne Caruana Galizia Prize for Journalism – awarded by the European Parliament around the anniversary of her death – will be revealed on Tuesday evening.

MEPs will debate on Wednesday and vote on Thursday on the Parliament’s demands for the 2025 UN Climate Change Conference COP30.

European Parliament President, Roberta Metsola, will announce the laureate of the 2025 Sakharov Prize for Freedom of Thought at around noon in plenary on Wednesday.

Cyprus’ Foreign Minister Constantinos Kombos attended the Foreign Affairs Council (FAC) of the EU that took place in Luxembourg on Monday. The 27 member states discussed Russia’s aggression against Ukraine and the situation in the Middle East. Kombos called on the EU to be actively involved in the implementation of the Gaza agreement, stressing that Cyprus continuously declares its presence through the maritime humanitarian corridor.

Prior to the official start of the Council’s proceedings, the foreign ministers participated in an informal working breakfast, during which they discussed the working methods of the FAC.

In his statements in the session on Ukraine, the Foreign Minister reiterated Cyprus’ support for an unconditional and complete ceasefire, aiming to initiate negotiations for achieving comprehensive and sustainable peace in the country. Additionally, Kombos referred to Cyprus’ support for the swift adoption of the 19th sanctions package, which includes measures to address the shadow fleet.

Regarding the Middle East, the Foreign Minister stressed in his intervention that the EU must engage actively and tangibly in implementing the recent agreement on Gaza. “Cyprus, as the EU member state closest to the region, continuously declares its presence through the maritime humanitarian corridor, leveraging its excellent relations with the countries of the region, and is ready to contribute further in this direction,” he underlined.

In this context, the Foreign Minister also referred to the contacts made by the President of the Republic during the Summit for Peace in Egypt, where specific areas were highlighted in which Cyprus can develop concrete initiatives in the fields of security, reconstruction, and humanitarian aid.

Referring to yesterday’s process in Cyprus’ occupied territories that led to the election of the new Turkish Cypriot leader, Tufan Erhrman, the Minister reaffirmed Cyprus’ readiness and political will to continue efforts to resume substantive negotiations for the resolution of the Cyprus problem. He underlined that the solution to the Cyprus issue must be based on UN resolutions and the principles and legislation of the EU.

After the conclusion of the Foreign Affairs Council, the Foreign Minister is participating in the Meeting on Regional Security and Connectivity between the foreign ministers of EU member states and partner countries of the Eastern Partnership, the Black Sea region, and Central Asia. The meeting will focus on energy, transport, and maritime management issues.

Cyprus has been divided since 1974, when Turkey invaded and occupied its northern third. Repeated rounds of UN-led peace talks have so far failed to yield results. The latest round of negotiations, in July 2017 at the Swiss resort of Crans-Montana ended inconclusively.

The leaders of the nine Mediterranean states who took parth today in the MED9 Summit in Ljubljana, Slovenia, with the participation, in part of the Summit, of King Abdullah II of Jordan, welcomed the role of the Republic of Cyprus in addressing the humanitarian crisis in the region, as well as its efforts to resolve the Cyprus issue, on the basis of the agreed framework.

According to a written statement by the Director of the Press Office of the President of the Republic, Viktoras Papadopoulos, in the Joint Declaration issued after the Summit, the leaders of the nine states that make up MED9 reiterate their commitment to a “comprehensive settlement of the Cyprus problem within the framework of the United Nations, as defined by the relevant UN Security Council resolutions and on the basis of the principles and values of the EU and European law,” while also expressing “appreciation for the efforts of the UN Secretary-General, which have led to the continuation of dialogue between all parties and should pave the way for the formal resumption of negotiations within the agreed framework.”

The leaders also welcome “the appointment by the European Commission of Johannes Hahn as Special Envoy for Cyprus, as well as the joint letter from the Presidents of the European Council and the European Commission to the UN Secretary-General, reiterating the EU’s position and readiness to actively support the UN-led process.

As stated in the Joint Declaration, “we emphasize that Turkey’s tangible contribution to the swift resumption and successful conduct of negotiations remains of utmost importance and a key component in advancing Euro-Turkish relations, in line with the European Council Conclusions of April 2024,” while the leaders express their conviction that “avoiding unilateral actions – including those in Varosia and along the ceasefire line – is essential for creating the right climate for the resumption of talks.”

Referring to the upcoming Presidency of the Council of the EU by the Republic of Cyprus, the MED9 leaders welcome “Cyprus’ intention to place particular emphasis on the Mediterranean region, including the implementation of the Mediterranean Pact, as well as on strengthening relations with countries in the region.”

Finally, as noted in the Joint Declaration, the nine leaders noted that it is in the “strategic interests of the EU to ensure a stable and secure environment in the Eastern Mediterranean and to develop cooperation and a mutually beneficial relationship with Turkey, on the basis of existing conditions”.

“Issues must be resolved by peaceful means and with full respect for international law, including the Convention on the Law of the Sea. The sovereignty and territorial integrity of all EU Member States must be respected and their sovereign rights fully respected,” it is stressed.

It is also noted that the next MED9 Summit will take place in 2026 in Croatia.

Furthermore, according to Papadopoulos, the Joint Declaration of the MED9 leaders and King Abdullah II of Jordan, issued after the conclusion of the second part of the Summit, on the situation in the Middle East, highlights, inter alia, the leaders’ recognition of the humanitarian role played by Jordan in the region, while the leaders welcome the US President’s plan for peace in Gaza.

It is further noted that the MED9 countries reiterate that all humanitarian aid corridors, including “Amalthea,” are valuable in addressing the enormous humanitarian needs of the civilian population in Gaza.

Cyprus has been divided since 1974, when Turkey invaded and occupied its northern third. Repeated rounds of UN-led peace talks have so far failed to yield results. The latest round of negotiations, in July 2017 at the Swiss resort of Crans-Montana ended inconclusively.

Reshaping Europe in an age of uncertainty: TEPSA, CCEIA and the

University of Nicosia hold the Cypriot Pre-Presidency Conference

Brussels and Nicosia – On 30 and 31 October 2025, the Trans European Policy Studies Association (TEPSA), the Cyprus Center for European and International Affairs (CCEIA), and the Department of Politics and Governance of the University of Nicosia will hold a high-level conference in Nicosia to discuss the priorities of the Cypriot Council Presidency. The Conference is supported by the European Union, the Ministry of Foreign Affairs of the Republic of Cyprus, the Norwegian Institute of International Affairs (NUPI) and the Cyprus Forum.

On 1 January 2026, Cyprus will succeed Denmark in holding the presidency of the Council of the European Union. With the rise of Russia’s hybrid threats in Europe and a tumultuous relationship with the United States, the EU’s path towards strategic resilience and preparedness needs to be strengthened.

The Cypriot Pre-Presidency Conference (PPC) will be an opportunity to assess how the current global landscape affects both Europe and Cyprus itself, particularly as the island stands at the crossroads of regional tensions. Several policymakers, key figures from academia and civil society from Cyprus and other countries will participate. These include Nikolas A. Ioannidis, Deputy Minister of Migration and International Protection of the Republic of Cyprus, Theodoros Gkotsis, Spokesperson of the Ministry of Foreign Affairs of the Republic of Cyprus, and the Ambassadors of France and Greece to Cyprus.

‘Cyprus will assume the Council Presidency amid heightened geopolitical tensions and fundamental debates about the EU’s future. As security concerns dominate the European agenda, the continued Turkish occupation of the northern part of Cyprus must not be overlooked. Furthermore, at a time when democratic erosion and Euroscepticism threaten the European project, this Conference offers an essential forum for examining how Cyprus can strengthen European security, stability, and prosperity’ states Andreas Theophanous, President of CCEIA.

Commenting on the significance of the Cypriot Presidency, TEPSA’s Executive Director, Mariam Khotenashvili, said ‘The Cypriot Presidency of the Council will need to strive not only for EU unity, but also for sufficient and timely action: on Palestine, on additional EU support to Ukraine, on competitiveness. The challenge is not only to find compromises, but to do what is needed so that EU values and interests are defended.’

The Conference will feature the following panels: ‘TEPSA’s recommendations and perspectives on the objectives of the Trio Presidency (Poland – Denmark – Cyprus)’; ‘The EU as a global power?’; ‘European Security Challenges’; ‘Perspectives on EU enlargement’; ‘Democracy and the role of European citizens’; ‘What socioeconomic paradigm for Europe?’; ‘Energy challenges and green development/transition’, and concluding remarks.

Notes to editors

The ‘Pre-Presidency Conference’ is a flagship initiative of the Trans European Policy Studies Association. These high-level discussions have become a staple of the European political year ever since the first one ahead of the Irish Presidency in 1975.

The Cypriot PPC will take place on 30-31 October at the UNESCO Amphitheatre of the University of Nicosia (Makedonitissis 46).

The conference is co-organised by TEPSA, CCEIA, and the Department of Politics and Governance of the University of Nicosia, and supported by the Norwegian Institute of International Affairs (NUPI), the Cyprus Forum, and the Ministry of Foreign Affairs of the Republic of Cyprus.

Registrations for the conference are open at the following link. An agenda of the conference can be found here. All panel discussions will be livestreamed on TEPSA’s YouTube channel.

The Cyprus Stock Exchange (CSE) All Share Index closed at today`s stock exchange meeting as follows:

MEETING DATE: 20/10/2025

INDICES BASE VALUES: FTSEMed=5000, OTHERS = 1000

EURO (pound )

TRADED VALUE 665.328,21

INDEX

VALUE

%DIFF.

VALUE

FTSE/CySE 20

167,240

0,370

660.949,450

MAIN MARKET INDEX

225,200

-0,110

614.135,470

INVESTMENT COMPANIES MARKET INDEX

3.201,030

-0,300

37.745,810

CSE GENERAL INDEX

275,840

0,370

665.328,210

HOTELS INDEX

1.600,360

0,000

3.972,510

ALTERNATIVE MARKET INDEX

1.824,830

0,970

51.192,740

MED9 leaders and King of Jordan Abdullah who convened Monday in Slovenia signed a joint statement on Gaza, Lebanon and Syria, highlighting at the same time the role of Jordan.

In particular the MED9 leaders expressed their appreciation for Jordan as a reliable and credible partner with a key role as an anchor of peace, stability and security in the Middle East and the Mediterranean region.

The Leaders welcomed the convening of Sharm El Sheikh Summit for Peace and the signing of the ceasefire agreement, hostage and humanitarian deal in Gaza. “They emphasize the importance of the implementation of the first phase of the ceasefire agreement, including the release of hostages and detainees. They call on all parties to fully commit to implement all phases of the agreement to end the war in Gaza and refrain from any actions that jeopardize this agreement”, the joint statement says.

They also called for EU participation on the Board of Peace with regards to the long-standing support offered by the EU to a comprehensive peace.

As regards the humanitarian crisis the leaders underlined the indispensable role of UNRWA and reaffirmed their commitment to continue supporting the agency in providing services to 5.9 million Palestinian refugees.

They also reiterated the primacy of land corridors, noting that all routes, of land, air, and sea, including the Cyprus Maritime Corridor, are valuable in helping to meet the vast humanitarian needs of civilians in Gaza.

They also reaffirmed their unwavering commitment to a lasting and sustainable peace based on the two-state solution in accordance with internationally agreed parameters, international law and with relevant UN Security Council resolutions and the New York Declaration on the Peaceful Settlement of the Question of Palestine and the Implementation of the Two-State Solution.

“All parties must refrain from actions that undermine the viability of the two-state solution”, they underlined.

The Leaders expressed their support to Lebanon’s stability and to the fundamental role played by the United Nations Interim Force in Lebanon (UNIFIL). They also reiterated the need to respect Lebanon’s sovereignty and territorial integrity and they called on all parties to fully implement Resolution 1701 and the ceasefire agreement of November 2024.

The Leaders reaffirmed their support to the Syrian people and their government in its efforts aimed at rebuilding Syria on the basis that guarantees its security, stability, unity, sovereignty, and territorial integrity, while promoting an inclusive political process and fulfilling the aspirations of all Syrians and preserving their rights.

The MED9 countries endorsed the roadmap announced by Jordan, Syria and the United States to end the crisis in Suwayda and Stabilizing Southern Syria, and they called for full implementation of the roadmap, and appreciate Jordan’s role to end the crisis in Suwayda governorate.

Paphos FC stands alone at the top of the Cyprus League by Stoiximan with 18 points, following APOEL’s 2-2 draw with Olympiakos at the conclusion of Matchday 7.

Paphos had defeated Ethnikos Achna 4-0 in the opening match of the Matchday on Friday.

On Sunday, Omonia and Aris secured victories and now sit tied in second place alongside APOEL, with all three clubs on 16 points.

Omonia Nicosia beat Ypsonas 2-1 at the “Ammochostos – Epistrofi” Stadium in the day’s early match. Later on, Aris Limassol dominated AEL with a convincing 4-0 win at Alphamega Stadium.

In Saturday’s games, Anorthosis and Akritas Chlorakas played to a 2-2 draw at “Antonis Papadopoulos” Stadium, Apollon defeated Omonia Aradippou 1-0 at Alphamega, and AEK earned a 2-0 away win over ENP at “Tasos Markou”.

Matchday 7 Results: Paphos FC – Ethnikos Achna 4-0, Apollon – Omonia Aradippou 1-0, Anorthosis – Akritas Chlorakas 2-2, ENP – AEK 0-2, Freedom24-Krasava ENY – Omonia 1-2, Aris – AEL 4-0, APOEL – Olympiakos 2-2.

Standings (after Matchday 7): Paphos FC 18, Omonia 16, Aris 16, APOEL 16, AEK 13, Apollon 12, Ethnikos 11, Akritas Chlorakas 8, Krasava Ypsonas 7, AEL 7, Olympiakos 6, Omonia Aradippou 4, Anorthosis 3, ENP 1.