S&P upgrades Cyprus to A

Fiscal surpluses of slightly below 3% of GDP through 2029, net public debt of slightly above 30% of GDP and average growth of just below 3% are expected

S&P cites strong tax revenues, growing services exports, notably in IT and intellectual property, and falling debt; the president, the finance minister and the chief executive of Bank of Cyprus welcomed the upgrade. The agency names dependence on imported oil for power generation as a burden (Cyprus Mail, 19 Sep 2026).