Foreign investors and entrepreneurs considering relocation to Cyprus using the Cyprus company as a vehicle, have now more reasons to feel confident on taking such a decision.
Fitch Ratings has upgraded Cyprus‘ long-term foreign-currency rating to ‘A-‘ from ‘BBB+’, citing strong fiscal discipline and economic performance. Highlights include:
- Debt Reduction: Public debt-to-GDP declined from 113.5% in 2020 to a projected 65.5% in 2024, supported by fiscal surpluses averaging 4.8% (2024–2026).
- Economic Growth: Forecasted GDP growth of 3.8% in 2024, driven by ICT, services, and strong exports.
- Banking Sector Stability: Improved solvency and lower non-performing loans.
These factors enhance Cyprus’ investment appeal and resilience to external risks.