Financial Analysis and Currency Deposits
EU Recovery and Resilience Facility (RRF)
To mitigate the socioeconomic impact of the pandemic & to strengthen the resilience and competitiveness of the Cypriot economy
€1.2 bn
from EU mechanism
€1.1 bn
additional funds
mobilised in Cyprus
58
reforms
75
investments
41%
Green Transition
23%
36%
Digital Transition
Other
m
7.1% increase in GDP for 2022-2026
2.5% increase in employment for 2021-2026
+11,000 new high value-added jobs
preparing for a green and digital era
•
75 new investments to be initiated including:
Interconnection between Cyprus, Greece and Israel (€100 mn)
Promotion of diversification and competitiveness via introduction of financing
schemes to SMEs and start-ups (€52 mn)
•
Promotion of sustainable transport (eg: hybrid vehicles) (€49 mn)
58 reforms to be introduced including:
Modernising public and local authorities, improving efficiency in judicial system
Introducing green taxation
Establishing e-government
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