Cypriot government and OEB discuss economic impact of Middle East conflict

On Thursday afternoon, the Cyprus Employers and Industrialists Federation (OEB) met with Finance Minister Makis Keravnos to assess the economic consequences of the ongoing conflict in the Middle East. The meeting followed reports of an attack by the US and Israel against Iran approximately one month ago. OEB President Giorgos Pantelidis expressed concern that the long-term impact on the economy could be greater than current forecasts. He emphasized that the situation remains fluid and depends on the intensity and duration of regional hostilities. Minister Keravnos responded that it is currently premature to discuss new economic measures before the recently announced initiatives have been implemented and tested against real-world developments. Both parties agreed on the necessity of proactive government planning. However, Pantelidis noted that current economic data provide a buffer, allowing time to develop strategies that ensure fiscal stability and maintain economic resilience. The discussion focused on balancing immediate measures with long-term strategic foresight.