Pafos Live 7 December 2024
Fitch upgraded Cyprus' long-term foreign currency rating to "Alpha Minus" from "Beta Beta Plus", with stable prospects.
Key drivers of the assessment include the rapid reduction in public debt, strong fiscal surpluses, contained fiscal risks, strong growth momentum, an improving banking sector and its ability to attract foreign investment.
Posting on platform "X", President Christodoulides said that the new upgrade of the economy is a recognition of the country's positive course and a vote of confidence for our responsible policies for a competitive and resilient economy aimed at improving citizens' daily lives.
