Immigrating to Cyprus has brought good news for overseas investors; last year, the Cypriot economy performed exceptionally well, successfully overcoming the crisis and achieving a new growth high in seven years, with economic growth of 1.6%. Cyprus Minister of Finance Harris Georgiades stated that the economic growth last year was driven by tourism-related industries, financial services, and sectors such as construction and manufacturing. However, he emphasized that Cyprus must continue to implement relevant agreements reached with international aid organizations and advance reforms.
President Anastasiades stated in another statement that the Cypriot economy will remain stable in the medium to long term. He mentioned that the government's economic work priorities for 2016 include maintaining macroeconomic and financial stability, continuing structural reforms in public services and health systems, and advancing the privatization process of state-owned enterprises.
Anastasiades stated that Cyprus is prepared to successfully exit the assistance agreement reached with international aid organizations this March.
In March 2013, the Cypriot government reached a €10 billion assistance agreement with international aid organizations, including the Eurogroup and the International Monetary Fund. According to the agreement, Cyprus is required to make adjustments to its economy.