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Home News Economy

OEB: Immediate return to normality to avoid damage to the economy

Mr. Pantelidis states that the Government assures that Cyprus does not participate and will not be involved in military operations in the Middle East.

Famagusta News by Famagusta News
05/03/2026
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The President of the Greek Economic and Monetary Union (OEB), George Pantelidis, refers to the need to resume daily social and business activity without delay, so as not to cause unnecessary financial losses, in a written statement today, Thursday, on the occasion of the crisis in the Middle East and the effects on Cyprus.

Mr. Pantelidis states that the Government assures that Cyprus does not participate and will not be involved in military operations in the Middle East, noting that the country's proximity to the fields of operations and the drone incident at the British Akrotiri Base led to the immediate mobilization of state mechanisms and the strengthening of defense protection with the assistance of allied countries, mainly Greece.

At the same time, he describes the citizens' concern as understandable and emphasizes the need for timely and reliable information, in order to avoid unnecessary panic.

He adds that, according to the OEB, business activity continues without significant obstacles in all sectors, with the only negative development being the temporary suspension of flights by certain airlines to Cyprus airports.

The President of OEB also refers to an announcement by Hermes Airports, noting that the majority of airlines maintained their flight schedule and that companies that had temporarily suspended flights restarted routes to Larnaca and Paphos, a development that, as he states, enhances the feeling of stability and security.

Finally, he calls on the Government to consider preventive measures to absorb possible impacts from expected increases in fuel and raw materials, as well as targeted actions to support the hotel and tourism sector, while noting that the media contributed to objective information and expressing the certainty that they will continue responsibly towards a full return to normality.

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