Cyprus's Minister of Finance, Makis Keravnos, reaffirmed the government's commitment to achieving fiscal stability and creating an environment that would make the economy more resilient against future shocks, in a recorded address delivered during the inaugural ceremony of the 2nd Financial Markets Forum hosted by Freedom Finance Europe, in Limassol.

Keravnos stressed that the Government’s goal is to preserve Cyprus' reputation as a reliable financial hub and an attractive investment destination.

"We aim to establish ourselves as a regional hub for information and communication technology companies serving as the gateway for international businesses seeking to enter the EU market," Keravnos said. He further noted, that "thanks to well-coordinated initiatives Cyprus has made a remarkable progress in innovation, emerging as a frontrunner among EU member states."

Keravnos underscored the efforts to strengthen Cyprus's financial sector, stating that it was a top priority, aligning with the government's core objective of maintaining Cyprus's reputation as a trustworthy financial hub and an attractive destination for investments.

"The government actively supports a robust regulatory framework and aligns with global standards, mainly targeting combating money laundering and terrorist finance," Keravnos added.

Furthermore, he said that Cyprus was in collaboration with international bodies to stay updated on regulatory developments, ensuring transparency and credibility of the financial industry while adapting to emerging challenges.

“In addition to its commitment to these international standards, Cyprus as a member of the UN and EU, is obliged to enforce and implement restrictive measures adopted by the European Council through relevant decisions and regulations as well as international sanctions, through appropriate decisions adopted by the UN Security Council,” he said.

Stressing that the future ahead, both regionally and globally, was undoubtedly complex and demanding, the Minister of Finance emphasised that simplistic approaches and policies were no longer sufficient for navigating the ever-evolving landscape of global markets and economies. Thus, the focus must shift toward flexibility and a robust supervision system, he concluded.