Moody's upgrades Cyprus' credit rating, signaling improved economic health and potential for growth.

Moody's has upgraded Cyprus' credit rating from Baa2 to A3, marking a significant improvement since 2011. This upgrade reflects Cyprus' improved fiscal health, with reduced public debt and fiscal surpluses. The move is seen as a positive signal for foreign investment and job creation, with the economy projected to grow by 3.2% annually over the next few years, driven by sectors like technology and finance.

November 23, 2024
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