DBRS Morningstar confirms Cyprus credit rating at A with stable outlook

On March 13, 2026, the credit rating agency DBRS Morningstar confirmed the Republic of Cyprus's long-term foreign and local currency credit rating at 'A' with a stable outlook. The agency also maintained the short-term rating at 'R-1 (low)'. According to the report, Cyprus saw a 3.8% increase in real GDP in 2025, driven by strong domestic demand, service exports, and a 12.2% rise in tourist arrivals. Public debt was reported to have declined to 60.6% of GDP as of September 2025. Despite this positive growth, DBRS warned that geopolitical tensions in the Middle East create uncertainty for short-term economic prospects, particularly regarding tourism and energy costs. Finance Minister Makis Keravnos welcomed the report, citing the government's prudent fiscal policies and financial buffers as protection against regional instability. President Nikos Christodoulides described the confirmation as a vote of confidence in the nation's economic resilience.