Fiona Mullen, Director


Sapienta Economics Ltd is a consultancy based in the Republic of Cyprus. The company produces economic and political analysis, primarily on Cyprus, for prestigious international and local clients. We are committed to independent analysis and have no ties to any government or political party, either in Cyprus or abroad. Clients of our monthly flagship Sapienta Country Analysis Cyprus include more than a dozen embassies, big four accounting firms, oil and gas majors, banks, fund managers, large foreign direct investors and others.

Director Fiona Mullen has been providing economic and political analysis and research to an international audience for over 20 years. She was the Cyprus contributor for the Economist Intelligence Unit (EIU) for 15 years (2001-15); she served as the economy adviser to the UN’s Special Adviser to the Secretary-General on Cyprus (the UN “Good Offices” mission) from April 2008 until February 2016, both as a consultant and as an international staff member, advising among other things on the economic aspects of a settlement of the Cyprus problem including property-related issues. Since then she has continued to undertake project work for the Good Offices mission.

Mullen is the author of several publications on the economy of Cyprus (see publications below). Prior to living in Cyprus Mullen was Director of the flagship Country Reports and Country Profiles at the EIU and Senior Europe Analyst. She was the Senior Analyst from 2002 until 2006 at the Financial Mirror, Cyprus’ only financial newspaper.

Fiona Mullen has also produced in-depth economic analysis on a wide range of Middle Eastern and North African countries. 

Fiona Mullen has been frequently interviewed on the Cyprus economy, including several times by The Economist, the Financial Times and ThomsonReuters, as well as by Le MondeDer Spiegel,  the Wall Street Journal, Al-Jazeera, BBC World TV, BBC Radio 4, BBC Radio 5 Live and CNN among others. 


  • Sapienta Country Analysis, Cyprus. Launched in December 2012, this provides monthly unrivalled in-depth analysis of the Cyprus economy and politics. Visit the Country Analysis Cyprus page. 
  • Sapienta Cyprus Snippets. Launched in 2022, you can find our regular newsletter on Substack. It is free for now. Sign up here.
  • Podcast: Figure It. Launched in 2020 under the umbrella of Island Talks, the only trilingual podcast station in Cyprus. 
  • Delivering the Cyprus Peace Dividend, by Fiona Mullen, Mustafa Besim and Michalis Florentiades, PRIO Feb 2020. This analysis updates earlier estimates that quantify the economic benefits of a solution to the Cyprus problem (“the peace dividend”) and also presents proposals for how to maximise the peace dividend. To download the English version, click here. For the Turkish translation click here. for the Greek translation click here. For accompanying infographics and videos and the report in three languages, visit here.
  • The Cyprus Peace Dividend Revisited: A Productivity and Sectoral Approach, by Fiona Mullen, Alexander Apostolides and Mustafa Besim, PRIO May 2014, To download, click here.
  • The Cyprus hydrocarbons issue: context, positions and future scenarios, by Ayla Gürel, Fiona Mullen and Harry Tzimitras, PRIO, February 2013. To download, click here.
  • Professional services: Driving jobs and growth in Cyprus, by Fiona Mullen and Marina Theodotou, PwC Cyprus, December 2012. To download the English version, click here. To download the Greek version, click here.
  • Cyprus: An Island in Europe, by James Ker-Lindsay, Hubert Faustmann and Fiona Mullen (eds), I.B. Tauris, May 2011. To purchase from the publisher, click here.
  • The day after III: The Cyprus dividend for Turkey and Greece, by Ozlem Oguz-Cilsal, Praxoula Antoniadou-Kyriacou and Fiona Mullen, PRIO, July 2010. To download, click here.
  • Displacement in Cyprus: Consequences of Civil and Military Strife, Report 6, “Property in the Cyprus Peace Process”, Proceedings of the PCC–CEPS Conference, 20–21 May 2010 (Brussels) by Fiona Mullen (ed). To download, click here.
  • Cyprus in the Global Financial Crisis‘, by Fiona Mullen and Mustafa Besim, South European Society and Politics, Vol 14, No. 1, March 2009. To purchase from the publisher, click here.
  • The day after II: Reconstructing a reunited Cyprus, by Praxoula Antoniadou-Kyriacou, Ozlem Oguz and Fiona Mullen, PRIO Cyprus Centre, January 2009. To download, click here.
  • Intra-island trade in Cyprus: Obstacles, oppositions and psychological barriers, by Mete Hatay, Fiona Mullen and Julia Kalimeri, PRIO, December 2008. To download, click here.
  • The day after: Commercial opportunities following a solution to the Cyprus problem, by Fiona Mullen, Praxoula Antoniadou-Kyriacou and Ozlem Oguz, PRIO, January 2008. To download the English version, click here, Greek version  click here, Turkish version click here.
  • Economic Perspectives in Cyprus: the Path Towards Reunification by Fiona Mullen (ed), PRIO, 2007. To download click here.
  • The Property Regime in a Cyprus Settlement, By Stelios Platis, Stelios Orphanides and Fiona Mullen, PRIO, 2006. To download, click here.
  • Doing Business with the Republic of Cyprus (Economy chapter), Kogan Page 2004
  • Middle East and North Africa 2009 and earlier years (author of Cyprus economy chapters), Routledge 2008