Cyprus maintains strict fiscal discipline while S&P upgrades credit rating to BBB+

Cyprus maintains strict fiscal discipline while supporting vulnerable groups and the middle class after a credit ratings upgrade by Standard & Poor's to BBB+. President Christodoulides emphasizes responsible fiscal policies and banking sector stability. S&P forecasts Cyprus' economy to grow by 3% over the next three years, with debt expected to fall below 60% by 2027. The upgrade is attributed to efforts by Cypriot banks to strengthen their financial position and the country's diversified economy. S&P warns of potential outlook revisions if public debt reduction falters or reform progress stalls.