Category: Cyprus News Agency

Acting Director-General of the European Anti-Fraud Office (OLAF), Salla Saastamoinen has told CNA that she strongly encourages Cyprus to consider applying for support under the Union Anti-Fraud Programme (UAFP), in order to further strengthen its anti-fraud capacity through EU funding.

In an interview with CNA in view of her visit to Cyprus on November 26-27 Saastamoinen also spoke highly of the cooperation of Cypriot relevant authorities pointing out that “their cooperation, openness and hospitality have been outstanding, and they set an example of the kind of partnership we want to build across the EU.’

She explained that the reasons bringing her to the island “are very much linked to the preparations for the Cypriot Presidency of the Council of the European Union.” At the same time, she strongly encouraged Cyprus to consider applying for support under the Union Anti-Fraud Programme (UAFP), in order to further strengthen its anti-fraud capacity through EU funding.

According to the Acting Director-General of OLAF, ‘Cyprus is about to take on a leading role at a particularly important moment for the Union, especially when it comes to protecting the EU’s financial interests.’

She stressed that this is precisely why, from OLAF’s perspective, it is considered crucial that ‘our cooperation is smooth, effective and ready for the months ahead.’

As she noted, ‘we have not carried out many Presidency-related visits in the past, but I believe direct engagement with national authorities brings real added value.’ She also underlined the uniqueness of the visit, pointing out that ‘this is the first time an OLAF Director-General has visited Cyprus, and I think it marks a positive step towards stronger, more structured cooperation.’

Describing the objectives of her presence in Cyprus, Saastamoinen said that there are two main pillars, the first concerning ‘building a strong link with the Cypriot Presidency from the outset.’

She explained that Cyprus is taking on a role at a critical period: ‘The timing is particularly relevant given the ongoing review of the EU’s Anti-Fraud Architecture, launched by the Commission last July’ and its connection to the next Multiannual Financial Framework (MFF). She further highlighted that in the new era the role of national systems is decisive: ‘Under the Commission’s MFF proposal, national management and control systems become the first and central line of defence against fraud and irregularities’ and that the new framework sets ‘clear standards for preventing, detecting and reporting fraud, corruption and conflicts of interest.’

The second objective of her visit, she said, is more operational. ‘I am here to see how cooperation works on the ground, meet our partners, and understand the realities they face. Speaking directly with the Minister of Finance, the Accountant General or our counterparts in MOKAS helps us ensure that our collaboration is not only well-designed but also effective in practice,’ she added.

‘I would also like to sincerely thank the Directorate of Financial Control of European Funds of the Treasury of Cyprus, which operates as our contact point in the country, for organising this visit. Their cooperation, openness and hospitality have been outstanding, and they set an example of the kind of partnership we want to build across the EU,’ she noted.

Regarding specific issues in EU programmes or funds that concern OLAF in relation to Cyprus, Saastamoinen explained that it is difficult to identify national trends. As she said, ‘it is quite difficult – and not always helpful – to single out specific ‘national’ trends. Fraud can occur in any Member State and can involve any type of EU funding.’

She noted, however, what OLAF investigations have revealed across the EU overall, stating: ‘from collusion and manipulation of procurement procedures to conflicts of interest, inflated invoices, evasion of customs duties, smuggling and counterfeiting.’ She clarified that ‘these are issues that we see across the Union. They are not unique to Cyprus, but they do illustrate the complexity of the challenge.’

At this point, she highlighted one particular aspect that concerns only Cyprus: that it does not sufficiently use EU funding to enhance its anti-fraud capacity: ‘one area I would highlight specifically for Cyprus is the opportunity to further strengthen its anti-fraud capacity through EU funding.”

“I strongly encourage Cyprus to consider applying for support under the Union Anti-Fraud Programme (UAFP), which offers targeted assistance to enhance national systems and expertise,’ she stressed

‘I understand that Cypriot law enforcement agencies and beneficiary authorities have not yet applied for funding under the first component of the current programme, which supports technical assistance and training,” she said.

This, she added, “is despite our ongoing efforts to reach out regularly to our counterparts in all 27 Member States to encourage them to make full use of the programme.’

She further stressed that this is one of the reasons for her visit: ‘I think it is a missed opportunity, because the programme is very successful, and it provides financial support through grants and specialised tools to help protect the EU’s financial interests. We would very much welcome Cyprus making use of it.’

As for successful OLAF interventions in recent years, Saastamoinen described as most meaningful ‘those where strong cooperation with Cypriot authorities led to clear results: whether in customs-related cases, dismantling of smuggling networks or detection of irregularities in the use of EU funds. These joint efforts demonstrate that when Cyprus and OLAF work closely together, we can deliver significant and tangible impact.’

Asked by CNA about OLAF’s involvement in the EPPO investigation concerning the LNG terminal in Vasiliko, she avoided commenting, in line with OLAF’s standard practice, as the case is ongoing.

Referring to the broader cooperation with Cyprus, she stated that ‘the cooperation with the Cypriot authorities is quite good’, explaining that ‘although in the past there were certain limitations linked to the national legal framework, Cyprus has taken important and very welcome steps to ensure that OLAF can fully exercise its mandate when conducting administrative investigations. These efforts have made a real difference, and we appreciate them greatly.’

According to Saastamoinen, a particularly strong area of cooperation is customs: ‘As you know, customs authorities across the EU are the first line of defence in protecting the Union’s financial interests.”

“This is especially true for Cyprus, given its geographical position and the specific challenges that come with being at the external border of the EU,’ she added, describing cooperation with the Cypriot Customs as ‘very productive: we exchange information, we conduct joint operational activities, and we work side by side to counter customs fraud, smuggling and other cross-border threats. This is precisely the kind of practical, hands-on collaboration that delivers results.’

She also noted that ‘the arrival of the European Public Prosecutor’s Office (EPPO) has also changed the landscape, including in Cyprus’, as it adds a judicial dimension to anti-fraud efforts, and cooperation with EPPO is strong: together they ensure that EU funds are protected and wrongdoers prosecuted.

As for whether Cyprus is equally results-driven as OLAF, Saastamoinen stressed that ‘our experience shows a clear commitment from the Cypriot authorities. We see willingness, responsiveness and a constructive attitude across the board.’

She added that every Member State faces challenges, but Cyprus has shown readiness to address obstacles, whether through legislative changes, administrative improvements or deeper operational cooperation. From OLAF’s perspective, this is what matters most: ‘a shared commitment to ensuring that EU funds are protected, and that fraud is tackled efficiently.’

On whether OLAF’s intentions align with those of the Cypriot public administration and whether staffing is adequate for implementing a National Anti-Fraud Strategy, Saastamoinen did not comment on internal staffing matters but stated that ‘Cypriot authorities remain fully committed to developing and implementing a National Anti-Fraud Strategy. OLAF fully supports them in this process.’ She added that Cyprus participates actively in expert groups, receives targeted support, and that ‘genuine progress is being made.’

Looking ahead to the next MFF, she stressed that ‘having a comprehensive, coherent strategy based on a sound risk assessment will be an important audit and control requirement’, and from OLAF’s perspective, ‘it is encouraging to see Cyprus advancing in this direction, laying the foundation for stronger, more effective protection of EU funds.’

Finally, on measures to enhance transparency and accountability, she encouraged Cyprus to complete and implement its National Anti-Fraud Strategy: ‘Cyprus could also make better use of the Union Anti-Fraud Programme, which provides funding for technical assistance, training, and operational tools. At the same time, it’s important to ensure that core systems, like IT and data management, are properly financed so controls are effective.’

She added that ‘OLAF can support Cyprus through training, operational tools, sharing best practices, and helping coordinate with European partners and third countries. These steps strengthen control mechanisms and reduce the risk of fraud or mismanagement.’

OLAF’s acting DG concluded by noting that ‘overall, Cyprus and OLAF are moving together in the same direction – towards stronger, more results-oriented anti-fraud cooperation, but there is still work to be done. In my opinion, this visit marks a first step in building an even closer, more effective partnership for the months ahead.’

Cyprus and Lebanon signed on Wednesday an Agreement on the Delimitation of the Exclusive Economic Zone (EEZ) of the two countries and agreed to explore the possibility of interconnecting their electricity grid by creating technical working groups and through a feasibility study.

The President of Cyprus, Nikos Christodoulides, traveled to Lebanon on Wednesday morning, where he held a private meeting with his counterpart, Joseph Aoun. This was followed by an expanded meeting, after which President Christodoulides and Lebanon’s Minister of Public Works and Transport signed the EEZ delimitation agreement.

In joint statements with Aoun after the signing, President Christodoulides described the Delimitation Agreement between Cyprus and Lebanon as ‘a milestone of strategic significance that seals, in the clearest possible way, the level of our relations.’

He emphasized that with the signing of this very important Agreement, ‘we are sending a strong political message: that Cyprus and Lebanon, on the basis of International Law, the relevant United Nations Convention on the Law of the Sea, and of course, good-neighborly relations, continue to invest in strengthening trust and mutual respect. They continue to invest in promoting bilateral and regional cooperation and stability, for the benefit of our citizens and the wider Middle East region.’

With today’s historic agreement, he added, ‘we are closing a long-pending issue of many years and now looking to the future and to what our countries can jointly build on this foundation.’

President Christodoulides thanked his counterpart, saying that the signing of the Agreement would not have been possible without his political will and determination, as well as the contribution of Prime Minister Nawaf Salam, the government, and Lebanon’s political leadership.

He added that the successful conclusion of the negotiations was the result of ‘tireless and methodical work, in a spirit of trust and transparency, by our two negotiating teams,’ expressing appreciation and gratitude to their heads, Lebanon’s Minister of Transport and Public Works, Fayez Rasamny, and Cyprus’ National Security Advisor, Tasos Tzionis. He also thanked the members of the Cypriot Negotiating Team ‘who, with their expertise and dedication, contributed to today’s success.’

It is noted that the signing of the EEZ Delimitation Agreement closes an issue pending for nearly twenty years.

According to CNA sources, the Agreement is based on the Median Line, which has been the longstanding position of the Republic of Cyprus.

The initial Cyprus-Lebanon EEZ Agreement was signed in January 2007, but was not ratified by Lebanon due to internal issues. After the Cyprus-Israeli EEZ Agreement was signed in 2010, Lebanon raised claims of loss of maritime area, linked to its dispute with Israel. The Lebanon-Israeli dispute was resolved in 2022 through a U.S.-mediated agreement establishing their lateral maritime boundary.

Following the election of President Aoun in January 2025, Cyprus-Lebanon negotiations resumed at an intensive pace. Negotiations were held in Beirut in September 2025, and a revised text of the Agreement was agreed upon. It was approved by the Cabinets of Cyprus and Lebanon on 15 and 23 October 2025 respectively.

Turkey had consistently opposed and acted to prevent the signing of this agreement.

Prospects for cooperation in energy and infrastructure

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‘The Agreement we have just signed significantly enhances the prospects for cooperation in critical sectors such as Energy and Infrastructure. It also provides the necessary legal and economic certainty, and of course security, for potential investors, while at the same time strengthening the efforts of our countries to further develop our energy programs,’ President Christodoulides continued in his remarks.

At the same time, he noted that the agreement strengthens the prospects for energy cooperation in the Eastern Mediterranean and the region’s potential to act as an alternative energy corridor for Europe.

‘Beyond its energy and economic impact, I must also highlight the indisputable fact that agreements of this kind constitute a strategic foundation for regional stability and security in our particularly complex region. And today, with determination, vision, and deep faith in the capabilities of our countries, and through a positive approach, we are taking a substantial step toward a safer future for our countries and the wider region,’ he stressed.

Joint Request to the World Bank for an Electricity Interconnection Study

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The two Presidents also welcomed the dialogue that has already begun on the Cyprus-Lebanon electricity interconnection. In this direction, President Christodoulides said that ‘today, Cyprus and Lebanon jointly addressed the World Bank for the preparation of the relevant feasibility study for the specific project.’

Cyprus’ Support for Lebanon-EU Relations

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Beyond the signing of the Agreement and the discussions on broader energy issues, the President noted that the two leaders also had the opportunity to exchange views on further expanding bilateral cooperation, regional developments directly affecting both countries, and Lebanon-EU relations, ‘which Cyprus supports actively and substantively,’ as he said. He also said that he briefed President Aoun on the latest developments in the Cyprus Issue.

‘Mr. President, I want to repeat publicly once again that we know very well the challenges Lebanon faces, and we recognize and actively support the efforts you have made from the first day of your election for their effective handling. We welcome your determination and decisive contribution to bringing Lebanon and its people into a new, much better era. And today, I want to assure you once again that Cyprus remains your most stable, reliable and predictable partner in this great effort,’ he said.

Within this context, he said that Cyprus fully supports Lebanon’s independence, sovereignty and territorial integrity. ‘We look forward to the full implementation, by all parties, of the relevant UN Security Council Resolutions regarding UNIFIL. We are fully aware that a stable and strong Lebanon is a foundation for a peaceful and secure Eastern Mediterranean and Middle East, and Cyprus supports through concrete actions the achievement of this goal,’ he noted.

In this direction, he added, and as the closest EU Member State to the region, and ahead of Cyprus assuming the Presidency of the EU Council in the first half of 2026, ‘we will further strengthen our role as a channel of communication and a vehicle of meaningful cooperation between Lebanon and the EU. We will continue to be pioneers in the broader deepening and development of EU relations with the region, actively contributing to the enhancement of strategic dialogue and joint actions.’

Concluding, the President stressed that the friendship between Cyprus and Lebanon is not only historical, but ‘a close, sincere, dynamic, and evolving relationship upon which we are building our common future.” “With today’s signing, we add another building block to this long and strategic path of cooperation and friendship, which naturally reflects the close ties between our peoples,’ he said.

On his part, the President of Lebanon, Joseph Aoun, speaking through an interpreter, said that “we are here to celebrate the completion of the delineation of the Exclusive Economic Zone between our two countries. This will allow both Lebanon and Cyprus to launch the exploration of their respective maritime resources as well as foster collaboration between our countries on this level”.

He said that the two of them still have a lot to accomplish together. On a bilateral level, following the agreement, “we can now work on developing bilateral agreements thereby facilitating and enhancing the work of exploration companies in both our countries. We can also proceed with launching new joint projects in the fields of energy – particularly renewable energy – as well as telecommunications and transmission lines, in addition to tourism programs. Similarly, we keep working together in the field of joint defense and security, with the ‘Search and Rescue Center’ common to both Ministries of Defense in our countries”, he said.

Moreover, President Aoun said that Lebanon is looking forward to Cyprus’ Presidency of the Council of the European Union in the first half of 2026, to activate and intensify “our mechanisms of engagement and cooperation with Europe. Our European agenda includes very important milestones, foremost of which, is the draft strategic partnership between Lebanon and the European Union which we sincerely hope to sign during your presidency of the Union”, he noted.

He also mentioned the common interest projects, such as efforts deployed to counter illegal immigration in the Mediterranean, and “the promised and much needed prospects to carry out and sustain this vital mission for the security of Europe and our sovereignty” adding that Lebanon has shown “great commitment in this field”.

“Our cooperation targets no one, nor does it exclude anyone. It is not meant to block the way of any friend or partner. On the contrary, we want this agreement to become the cornerstone of an international cooperation we wish to extend to our whole region, to provide stability and prosperity for all our countries and peoples” he stressed.

He added that “we openly and truly issue a call to pursue this maritime understanding with all parties seeking cooperation and the wellbeing of all our citizens. We believe this is the only way to put an end to violence, wars, and policies of hegemonial greed which came at a very high cost to our region and its people.”

The number of unemployed persons fell to 21,781 people, or 4.1% of the labour force (3.7% of men and women 4.6%), compared to 23,073 persons (4.5%) in the corresponding quarter of 2024, according to the Statistical Service.

Based on the results of the Labour Force Survey for the third quarter of 2025, the labour force amounted to 530,992 persons or 65.6% of the population (men 71.1%, women 60.4%) compared to 516,127 persons (65.7%) in the corresponding quarter of 2024.

According to the Statistical Service, the number of employed persons was 509,211 and the employment rate was 62.9% (men 68.5%, women 57.6%) compared to 493,054 persons (62.7%) in the corresponding quarter of 2024.

Employment

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In the 20-64 age group, the employment rate was 81.6% in the third quarter of 2025.

The rate for men was 86.6% and for women 76.8%. In the corresponding quarter of 2024, the rate was 80.7% (men 86.3%, women 75.5%), according to the survey results.

In the 55-64 age group, the employment rate in the third quarter of 2025 was 70.9%, compared to 71.0% in the corresponding quarter of 2024.

According to the distribution of employment by sector, the largest percentage of employees is concentrated in Services with 81.4%, followed by Manufacturing and Agriculture with 16.3% and 2.3% respectively. For the third quarter of 2024, the corresponding percentages were: Services 81.9%, Manufacturing 16.2%, and Agriculture 1.9%.

Part-time employment accounted for 8.8% of total employment or 44,607 people (men 6.8%, women 10.9%). The corresponding percentage for the third quarter of 2024 was 8.7% (men 6.5%, women 11.1%).

Of the total number of employed persons, 90.2% or 459,272 were employees, of whom 15.5% (71,008 persons) had temporary jobs.

In the corresponding quarter of 2024, employees accounted for 90.2% of total employment, of whom 14.5% had temporary jobs.

Unemployment

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Furthermore, according to the Labour Force Survey, the unemployment rate among young people aged 15-24 was 13.1% of the labour force of the same age group (14.1% for men and women 12.1%) compared to 12.1% (men 10.9%, women 13.4%) in the corresponding quarter of last year.

As far as the duration of unemployment is concerned, 63.8% of all unemployed persons had been looking for work for less than 6 months, 16.8% for 6-11 months, while 19.4% were long-term unemployed.

The corresponding rates for the third quarter of 2024 were 56.3%, 20.2%, and 23.5%.

Internationally recognized borders cannot be redrawn by force, Foreign Minister Constantinos Kombos said on Wednesday at the EU’s extraordinary Foreign Affairs Council meeting on developments in Ukraine.

According to a Foreign Ministry statement, Kombos participated in the extraordinary FAC teleconference, which focused exclusively on the latest developments regarding the ongoing peace efforts in Ukraine, including ways for the EU to further support the country.

As stated, during the Council meeting it was emphasized that there can be no sustainable peace without the active, meaningful, and free participation of Ukraine at the negotiating table. “It was also pointed out that any effort to achieve peace must fully respect international law, in particular the principles of sovereignty and territorial integrity of Ukraine. The active involvement of the EU is also an essential parameter,” it is added.

In his speech, Kombos noted that, according to the briefing given to the European Council, progress appears to have been made in recent meetings in both Geneva and Abu Dhabi, emphasizing that a framework is being developed. The Council needs to be kept constantly informed of all developments, the statement added.

“At the same time, Kombos highlighted the importance of cooperation with the United States, noting that American involvement is a decisive factor in promoting peace efforts. He also stressed that any peace plan must have Ukraine’s consent, as without its support and participation, no agreement can be sustainable. The EU’s interests in terms of its own security, among other things, must be part of the discussion,” it is further stated.

In closing, the Minister stressed that internationally recognized borders cannot be altered or redrawn by force, while pointing out that peace should not be limited to the cessation of hostilities, but should seek a lasting solution that will prevent future aggression.

Cyprus will play a decisive role in negotiations on the protection of the Union’s financial interests during its Presidency of the Council of the EU, said Finance Minister Makis Keravnos at a meeting with the Deputy Director-General of the European Anti-Fraud Office (OLAF), Salla Saastamoinen, in preparation for the Cyprus Presidency of the Council of the EU.

According to a Ministry of Finance statement, the meeting examined key European developments in the protection of the Union’s financial interests, including the review of the European Anti-Fraud Architecture (EUAFA), discussions on the new Multiannual Financial Framework (MFF 2028-2034), and the strengthening of OLAF-EPPO cooperation.

They also discussed Cyprus’ progress in developing its first National Anti-Fraud Strategy, which is being developed by the National Coordination Body for Combating Fraud against the EU’s financial interests – AFCOS Cyprus, chaired by the Accountant General of the Republic, and which will be officially presented in June 2026, during the Cyprus Presidency.

The Finance Minister said that protecting European taxpayers’ money is a priority and must be a central focus of the new MFF, while Saastamoinen conveyed the importance that Commissioner Serafin attaches to the fight against fraud, emphasizing the crucial role of the Cyprus Presidency in promoting the relevant dossiers.

“‘I’m very glad to be visiting Cyprus, especially at such an important moment with Cyprus preparing to take over the Presidency of the Council of the EU. We discussed the major files on the protection of the EU’s financial interests, from the review of the Anti-Fraud Architecture to the negotiations on the next Multiannual Financial Framework. I count on the Cypriot presidency to advance these files. I also appreciated meeting our partners on the ground with whom we cooperate very closely in the fight against all irregularities impacting the EU budget,” she stressed in her remarks.

She also expressed her appreciation for the meeting with local partners, with whom they work very closely, as she said, in combating all irregularities affecting the EU budget.

For his part, the Minister said that “Cyprus is working systematically in close cooperation with OLAF and the European institutions to strengthen mechanisms for preventing and tackling irregularities.”

“Protecting European citizens’ resources is our top priority and a key element of the negotiations on the new Multiannual Financial Framework,” he said, adding that “we will continue to invest in training, digital tools, and artificial intelligence, while promoting solutions that enjoy the support of all Member States.”

Finally, Keravnos and Saastamoinen agreed to continue their close cooperation, promoting effective solutions to protect the European budget and enhance transparency.

In addition, the Accountant General of the Republic and President of the National Anti-Fraud Coordination Service (AFCOS), Andreas Antoniades, discussed in a separate meeting today with Salla Saastamoinen how to further strengthen cooperation between the two sides, in light of the upcoming Cyprus Presidency of the Council of the EU.

According to an Treasury statement, current European developments in the field of fraud prevention, the planned revision of the OLAF Regulation, and the progress of the new Multiannual Financial Framework (MFF 2028-2034) were discussed, while special reference was made to the work to be carried out in view of the Cyprus Presidency of the Council of the EU in 2026, during which the Commission’s proposal for the revision of the OLAF Regulation is expected to be submitted.

As stated, Antoniades presented to OLAF the important reforms being implemented through AFCOS, including the first National Anti-Fraud Strategy, which will be officially presented in June 2026 at the OLAF conference in Cyprus, while referring to the extensive use of the ARACHNE platform in all shared management programs and the Recovery and Resilience Plan, to identify risks of fraud, conflicts of interest, and possible double funding.

Finally, the Accountant General reiterated the State’s commitment to close cooperation with OLAF and the European Commission, ensuring the effective protection of European resources and strengthening the country’s credibility, the statement concludes.

MedJICARP Project Holds Official Kick-Off Meeting in Heraklion, Greece

Interreg NEXT MED partners gather to advance operational oceanography for climate resilience in the Eastern Mediterranean

The MedJICARP project, coordinated by the University of Cyprus Oceanography Centre and funded with a total budget of pound 2,808,453 under the Interreg NEXT MED Programme, successfully launched its activities during a two-day kick-off meeting hosted at The Hellenic Centre for Marine Research (HCMR) Thalassocosmos research park in Gournes, Heraklion (Crete). The event gathered project partners from across the region to initiate a collaborative effort aimed at enhancing climate change monitoring and resilience in the Eastern Mediterranean.

MedJICARP seeks to establish a robust platform for the exchange of scientific knowledge, best practices, and lessons learned in operational oceanography, creating a shared foundation for climate-related data, methodologies, and innovation.

Two-Day Programme: Building Collaboration and Technical Foundations

Day 1 opened with a welcome session led by the Hellenic Centre for Marine Research (HCMR), followed by an overview of the project’s technical and financial aspects presented by the Joint Secretariat. Partners then explored the context and objectives of MedJICARP, along with introductions to participating institutions.

Afternoon sessions focused on communication, dissemination, and presentations of the three main technical work packages: Ocean Data Observatory Deployment for Climate Resiliency (WP3), Integrated Digital Hub for climate-related hazards (WP4), and Capacity-building for stakeholders and communities (WP5).

The first day concluded with a visit to the CRETAquarium Thalassokosmos and a welcome reception, providing an informal setting for partners to connect.

Day 2 featured the project’s first technical workshop, focusing on best practices for oceanographic sensors, FerryBox systems, and fixed platforms, including hands-on discussions on instrumentation, operations, and data collection standards.

Setting the Stage for Regional Climate Resilience

The Mediterranean region is especially susceptible to the effects of climate change. MedJICARP will deliver an integrated approach that strengthens the region’s capacity to monitor, understand, and respond to climate processes in the marine environment.

The project brings together nine leading scientific institutions from eight countries:

University of Cyprus Oceanography Centre (Cyprus) – Coordinator

Cyprus Marine and Maritime Institute – CMMI (Cyprus)

Hellenic Centre of Marine Research (Greece)

L-Università ta’ Malta (Malta)

Università degli Studi di Palermo (Italy)

Instituto Superiore per la Protezione e la Ricerca Ambientale – Italian Institute for Environmental Protection and Research (Italy)

National Council for Scientific Research (Lebanon)

National Institute of Oceanography and Fisheries (Egypt)

National Institute of Marine Sciences and Technologies (Tunisia)

For more information:

Dr. Monica Demetriou, Researcher, Oceanography Center, University of Cyprus | E: demetriou.monica@ucy.ac.cy | https://oceanography.ucy.ac.cy |Facebook: https://www.facebook.com/oceanographyCY

The contents of this press release are the sole responsibility of the University of Cyprus Oceanography Centre and can under no circumstances be regarded as reflecting the position of the European Union or the Programme management structures

The fact that the autumn package of measures adopted on November 25, 2025, by the European Commission as part of the European Semester, clearly confirms the resilience of the Cypriot economy, which is reflected in strong growth momentum and stable fiscal performance, is welcomed by the Government, according to a Ministry of Finance statement.

At the same time, the Ministry of Finance, remaining faithful to its policy of fiscal discipline and taking into account the European Commission’s references to the rate of growth of public expenditure, as it emphasizes, “will continue and intensify its efforts to rationalise public spending”.

“Cyprus is among the 12 eurozone countries whose draft budgets for 2026 have been assessed by the EU as compliant with the European fiscal framework, although a deviation from Cyprus’ commitment to limit the increase of net primary expenditure is expected,” the Ministry of Finance said in the statement.

It is noted that, in the context of the Republic of Cyprus’ commitments under the new European Economic Governance Framework, which entered into force on April 30, 2024, the annual percentage change in general government net primary expenditure was set at 6% for 2025 and 5% for 2026.

It is added, however, that according to European Commission forecasts, a deviation from the initial targets set for both 2025 and 2026 is expected due to a number of measures taken after the submission of the National Medium-Term Fiscal and Structural Plan in October 2024, including the National Solidarity Fund Replenishment Plan, the relief measures in the context of the wildfire in the mountainous area of Limassol at the end of July 2025, as well as the imposition of a zero VAT rate on a number of basic goods and the reduction of the VAT rate from 19% to 9% on electricity consumption until the end of 2026.

Citing the EU assessment, the Ministry of Finance adds that the reported deviation from the reference path of net primary expenditure has not slowed down the substantive objective of reducing public debt as a GDP percentage, which, according to the latest Ministry’s estimates, is expected to fall to 41.8% in 2028.

Furthermore, it is noted that the autumn package documents recognise that public debt as a percentage of GDP is expected to fall below the 60% threshold at the end of 2025 and continue its downward trend in the coming years.

It is added that the EU emphasizes that Cyprus maintains its ability to service its public debt.

According to the Ministry of Finance, “the more positive than initially expected reduction in public debt as a percentage of GDP during the period 2025-2028, despite the apparent divergence in the rate of increase in net primary expenditure, is due to public revenue increase, the maintenance of high fiscal surpluses and growth rates, as well as the revision of GDP by the Statistical Service of the Republic of Cyprus in October 2025.”

Regarding the macroeconomic imbalances procedure, the Ministry of Finance states that the EU continues to classify Cyprus as having “macroeconomic imbalances,” recognizing the significant reduction in non-performing loan ratios and the steady decline in public and private debt, supported by both nominal GDP growth, primary fiscal surpluses and the deleveraging of households and businesses.

In addition, it is stated that the European Commission stresses that the Cypriot financial sector remains strong, with banks maintaining strong profitability and further strengthening their already strong capital positions amid high liquidity.

“Regarding the current account deficit, the EU notes that the deficit is expected to decline to some extent but remain high, underscoring the need to reduce it,” it is further noted.

Department of Meteorology

Today’s weather and temperatures for Cyprus according to the Department of Meteorology

Date 26/11/2025

Station

TEMPERATURE (C) (FROM 20:00 PC of the previous one until the time of the show)

Highest

Lowest

Humidity at

1200 UTC

Nicosia (Athalassa)

24 (23.6)

12 (12)

58

Larnaka Airport

24 (24.2)

15 (14.9)

66

Limassol (New Port)

24 (24.3)

13 (12.6)

57

Limassol Garden

23,2

14,0

Pafos Airport

23 (22.6)

14 (13.6)

64

Frenaros

23 (23.2)

14 (14)

73

Prodromos

14 (13.6)

6 (6.2)

84

Polis Pafos

23 (23.1)

14 (13.6)

68

The President of India, Droupadi Murmu, expressed on Wednesday her country’s long-standing position and support for efforts to resolve the Cyprus issue on the basis of the agreed UN framework, noting “the country’s long-standing contribution to the United Nations Peacekeeping Force in Cyprus since its establishment.”

Welcoming the President of the House of Representatives, Annita Demetriou, who is on an official visit to India at the head of a parliamentary delegation, President Murmu, according to a House statement, “referred to the historic ties of friendship between the two countries, which are linked by common democratic values,” noting that “this visit is particularly symbolic, as it coincides with India’s Constitution Day.”

The Indian President noted the continuous upgrading of bilateral cooperation within the framework of the Action Plan agreed between the two countries in a wide range of areas of mutual interest, such as defence, technology, and shipping.

President Murmu expressed her gratitude for Cyprus’ support, both in relation to India’s goal of becoming a permanent member of the UN Security Council and the country’s relations with the EU.

She noted the election of Annita Demetriou as the first female President of the House of Representatives of Cyprus and the importance of this event in encouraging more women to participate in political life.

For her part, the House President expressed her sincere gratitude for India’s principled position on the Cyprus issue and the country’s contribution to UNFICYP, emphasizing that Cyprus, which faces constant challenges and illegal actions by Turkey, needs the support of true friends such as India in its struggle for justice and reunification.

She also assured the President of India that Cyprus attaches great importance to the further upgrading of bilateral relations and that, as a friendly country and a member state of the European Union, it will continue to support EU-India relations at all levels.

The House President congratulated President Murmu on the important anniversary for India and its people, India’s Constitution Day, emphasizing the importance for the two countries, which share similar historical experiences, to protect the precious gift that is democracy.

Finally, she praised the long-standing contribution and work of the Indian President in defending and promoting equality and equal opportunities for all citizens, and in particular for the empowerment of women and girls.

A meeting followed in the Lower House (Lok Sabha) with its President, Shashi Tharoor, and members of the Foreign Affairs Committee.

Welcoming the House President and the delegation, Tharoor reaffirmed India’s principled position in favour of the sovereignty, unity and territorial integrity of Cyprus and his country’s unwavering support for efforts to achieve a bi-zonal, bi-communal federation with political equality, as provided for in the relevant UN resolutions.

He emphasized that the strategic relations between India and Cyprus are governed by mutual trust and expressed his gratitude for Cyprus’ solidarity and support on issues of major importance to India, such as the fight against cross-border terrorism, but also India’s relations with the EU.

Noting Cyprus’ strategic geographical position, Tharoor referred to the comprehensive partnership between the two countries, as reflected in the Action Plan for 2025-2029, and the broad prospects for developing multifaceted cooperation in the fields of defence, trade, technology and innovation, shipping, education and culture, mobility and connectivity.

Demetriou expressed her sincere appreciation for India’s principled position and support for achieving a fair and sustainable solution to the Cyprus problem, emphasizing that in view of the continuing Turkish provocations, Cyprus needs the support of friendly countries such as India.

She also stressed that Cyprus is a stable and reliable partner for India and assured that the upcoming Cyprus Presidency of the Council of the EU is ready to contribute in every way possible to strengthening EU-India relations and India, including the completion of the Free Trade Agreement.

The Cypriot MPs participating in the delegation emphasized the importance of India’s extroverted approach and dynamic presence on the international stage and pointed out that the momentum in relations between the two countries should also be reflected at the parliamentary level, through the establishment of institutionalized cooperation, both at the bilateral and multilateral levels, and the increase of interparliamentary exchanges.

Finally, views were exchanged on current international developments and the challenges facing the Republic today, particularly in the online space.

The parliamentary delegation consists of MPs Nikos Tornaritis, Aristos Damianou, and Christiana Erotokritou, while the House President was accompanied by the High Commissioner of the Republic of Cyprus to India, Evagoras Vryonides.

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.

Negotiator of the Greek Cypriot side, Menelaos Menelaou, and the representative of Turkish Cypriot leader, Tufan Erhrman, Mehmet Dana, will meet on Friday November 28, ahead of the UNSG’s Personal Envoy María Ángela Holguín ‘s visit to Cyprus in early December, CNA learns.

Menelaou and Dana are scheduled to meet at Ledra Palace at 10 local time, in the framework of the preparatory work being carried out in view of Holguín’s visit, as the latter is expected to the island on December 4.

On 20 November, Cyprus President, Nikos Christodoulides, and the new Turkish Cypriot leader Erhrman agreed, during their first meeting, to have a joint encounter with Holguin during her visit here.

In statements to the press, Christodoulides has said that the joint meeting would take place after Holguin’s separate meetings with the two leaders. The UN diplomat will meet with Christodoulides on December 6 and with Erhrman on December 5.

He also said that in December Holguín will also pay visits to Greece and Turkey, while the EU Special Envoy on Cyprus, Johannes Hahn, will also visit Cyprus.

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 due to Turkish intransigence. The latest round of negotiations, in July 2017 at the Swiss resort of Crans-Montana ended inconclusively.

In 2025 the Secretary-General hosted two informal meetings on Cyprus, in March in Geneva and in July in New York, while a tripartite meeting with the Cyprus leaders was also held in late September, at the end of the UN General Assembly High Level Week. A new informal meeting in broader format is expected to take place.

María Angela Holguín, the UN Secretary-General’s Personal Envoy on Cyprus, is tasked to engage with the parties, while former European Commissioner Johannes Hahn, designated by the Commission as Special Envoy for Cyprus, is also expected to contribute to the settlement process, in cooperation with Holguín.