Three European economies set to grow fastest in 2026

Three EU members with available first-quarter data stand out as the fastest-growing economies: Cyprus, Bulgaria and Spain.

According to Eurostat data, Cyprus leads the pack with 3.0%. The island's economy expanded by 3.0% year-on-year in the first quarter of 2026, the highest among EU members with available first-quarter figures. This puts Cyprus' growth at almost four times the eurozone average.

However, it is a slowdown from the 4.3% recorded in the fourth quarter of 2025, which had been the fastest annual pace in three years and the second fastest in the EU at the time.

The drivers of the underlying expansion are well-known. The European Commission's autumn 2025 forecast attributes it to strong private consumption, an acceleration in investment supported by EU Recovery and Sustainability Funds, and a record tourist season.

The Commission forecasts full-year GDP growth of 2.6% in 2026 and 2.4% in 2027, both well above the eurozone average. /CNA

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