AGP Executive Report
Last update: 4 hours agoAgriculture Push: Cyprus is rolling out a €109.3m “Strategy for the Development of the Primary Sector” through 2029, aiming to lift the sector’s GDP contribution (currently 1.8%). A completed 2025 evaluation says the €106.2m investment could generate €138.6m in total output, add €70.8m to GDP and create around 1,370 jobs, with funding via the CAP and national resources. Banking & Elections: With elections reshaping Parliament, Cyprus banks’ strong post-2022 profits may face renewed political pressure when lawmakers return in September, including talk of a windfall tax and changes to banking laws—though banks are wary of higher taxation. State Milestone: President Nikos Christodoulides marked 66 years since the Republic’s proclamation, calling the state Cyprus’ “most important achievement” and stressing priorities on security, economic upgrading, modernising the state and improving quality of life. Connectivity Upgrade: A new undersea cable, Ugarit 2, is set to connect Cyprus and Syria by early 2028, replacing the older 1995 link and boosting capacity for regional digital connectivity. Energy Link Scrutiny: Commentators are urging a reality check on the Great Sea Interconnector, questioning viability, governance and assumptions in feasibility work, plus route and cost risks.
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