OEB president’s New Year message highlights economic resilience and EU presidency opportunities for Cyprus in 2026

The President of the Cyprus Employers and Industrialists Federation (OEB), Mr. George Pantelides, has issued a New Year’s message for 2026. He highlights Cyprus’s economic resilience amid geopolitical instability and energy uncertainty, with growth estimates of 3.4% for 2025 and positive prospects for 2026.

Cyprus’s return to investment grade “A” by international rating agencies, public debt below 60% of GDP, and inflation below 1% reflect stability and credibility. Unemployment has fallen below 4.5%, with employment exceeding 80% and real wages increasing, supporting social cohesion.

In 2026, Cyprus assumes the Presidency of the Council of the European Union, positioning the country at the center of European developments. The focus will be on promoting competitiveness, de-bureaucratization, and the European Union’s strategic goals of autonomy and openness.

OEB actively participates in European initiatives, including hosting the Council of Presidents of BusinessEurope member organizations in Nicosia. Mr. Pantelides will serve as Vice President of BusinessEurope’s Bureau until the end of 2026, representing Cypriot business interests at the European level.

The message emphasizes the need to address chronic domestic issues such as energy security, water independence, housing for youth, and skilled labor shortages. It also highlights urgent challenges like managing technological transitions, including AI regulation and cybersecurity directives.

To sustain growth and improve living standards, the federation advocates for investments based on a national masterplan, ensuring fiscal surpluses are used wisely. Reforms in pension systems and fair sharing of burdens across generations are also emphasized.

OEB commits to fostering a conducive environment for growth and prosperity. The message concludes with wishes for a Merry Christmas and a successful 2026.