Cyprus maintains fiscal discipline and receives S&P credit rating upgrade to BBB+ with a positive outlook.

Cyprus vows to maintain strict fiscal discipline after S&P raises its credit rating to BBB+. President Nikos Christodoulides states the upgrade confirms the correctness of the government's economic policy, including responsible fiscal policies, banking sector stability, and continuous reforms. S&P also maintains a positive outlook for Cyprus, with forecasted GDP growth of 3% over the next three years.

June 15, 2024
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