OEB president discusses the state of the Cypriot economy and institutional strength

OEB President Giorgos Pantelidis addressed the state of the Cypriot economy ahead of the organization's annual general meeting scheduled for April 28. He stated that the economy has demonstrated resilience amid international uncertainty, citing positive growth, fiscal stability, and investment activity. Despite these gains, Pantelidis identified key structural challenges including high energy costs, delays in essential reforms, and human resource shortages. Regarding institutional integrity, he argued that while gaps exist, the country's institutional framework has become significantly more robust since the 2013 economic crisis. He dismissed the prevailing narrative on social media that the entire system is corrupt. Instead, he characterized institutional stability as a prerequisite for a healthy economy. Ultimately, he emphasized that while current geopolitical conditions create uncertainty, the local business sector's adaptability remains a cornerstone of future development.