OEB President’s New Year message for 2026

The President of the Cyprus Employers and Industrialists Federation (OEB), Mr. George Pantelides, has issued a New Year message for 2026. He highlights that despite geopolitical instability, energy uncertainty, and increased regulation, the Cypriot economy has shown resilience, with growth estimates for 2025 at 3.4% and positive prospects for 2026.

Cyprus has regained investment grade “A” status, reduced public debt below 60% of GDP, and stabilized inflation below 1%. Unemployment has fallen below 4.5%, and employment has exceeded 80%, with real wages increasing. These indicators reflect economic growth aligned with social cohesion.

In 2026, Cyprus assumes the Presidency of the Council of the European Union, providing a strategic opportunity to promote competitiveness and de-bureaucratization. The Presidency aims to position the EU as “an autonomous union, open to the world,” with a focus on “autonomy through competitiveness.”

OEB actively participates in European decision-making, with Mr. Pantelides serving as Vice President of BusinessEurope’s Bureau until the end of 2026. The federation emphasizes the need to address chronic domestic issues such as energy security, water independence, housing, and skilled personnel, as well as managing technological transitions like AI and cybersecurity regulations.

The message underscores that sustainable wage and benefit improvements depend on robust, competitive entrepreneurship and productivity. It advocates for performance-based revisions of the minimum wage and fair, tripartite pension reforms that address intergenerational equity.

OEB commits to fostering an environment of growth and prosperity, wishing everyone a Merry Christmas and a successful 2026.