Cyprus Economy: External imbalances and outlook could cause problems
The European Commission, the International Monetary Fund National and the credit rating agency Moody’s have reported that the Cyprus Government has managed the Covid-19 crisis...
Les Manison
Side effects of ECB policies hindering sustained economic recovery
In the aftermath of the global financial crisis central banks substantially lowered interest rates to support the recovery of their economies. In fact, the ECB...
Policies and reforms needed to produce equitable growth
Hourly pay for managers is over five times more than for elementary workers – the highest ratio in the EU. The much-heralded Cyprus Tomorrow plan...
Coronavirus: Challenges in productively absorbing EU funds
Cyprus will not be able to take full advantage of ample EU covid aid unless it is willing to undertake major reforms In recent...
EU Covid funds must be focused on narrowing inequalities
Government’s draft recovery plan still relying too much on boosting tourism and property investments By Les Manison The recent release of national accounts, public finance...
Pandemic has deepened existing glaring inequalities
In 2019, the average salary of a civil servant was €40,000, for a private sector employee it was €20,000 While the official estimate that...
Can the budgets deliver decent government policies and reforms?
By Les Manison The state budget is the main instrument for allocating resources geared to meet the government’s policy objectives and reforms. And with the...
State budgets outdated and misdirected
Forget the political infighting, there are sound economic reasons for MPs to reject the government’s budgets By Les Manison Votes by members of the House...
Proper use of EU funds crucial to recovery
The government must realise there can be no return to ‘business as usual’ By Les Manison The impact of COVID-19 and the ongoing scandal on...
Coronavirus has exposed the vulnerabilities of Cyprus’ business model
Before the crisis of 2013, the economy was founded on huge piles of risky debt. Little has changed since then By Les Manison Prior to...
Coronavirus has exposed economic inequalities
The coronavirus and the efforts to combat its devastating impact have brought into sharper focus the inequalities, fragilities and structural weaknesses of the economy By...
Cyprus Economy: Responding to the Covid-19 Virus
By Les Manison The Covid-19 virus pandemic presents a new and unprecedented challenge to Cyprus and all nations. First and foremost it is a public...
Coronavirus: Economic impact likely to be painful and long-lasting
By Les Manison The adverse economic impact of the coronavirus is likely to be severe and prolonged with some commentators now predicting a depression in...
Effects of negative and ultra-low interest rates
In response to ECB accommodative monetary policies and persistently high levels of excess liquidity, Cyprus banks have continually effected reductions in interest rates By Leslie...
Economic growth is benefiting too few of us
Better budgetary policies would allow all of us to reap the rewards of economic growth By Les Manison In terms of exhibiting relatively rapid growth...
The passport sales that boosted construction are now in decline
By Les Manison In the period 2003-2008, the Cyprus economy experienced a bank-financed construction/property boom which contributed significantly to the subsequent financial crisis of 2012/2013....
Inequalities and the plight of the younger generation
By Les Manison Over the last decade younger persons in many countries, unlike their parents, have faced increasing difficulties in securing well-paid jobs and in...
The depressing truth behind our ‘economic growth’
Intergenerational inequalities have been exacerbated by government policies that favour the rich By Les Manison The current Cyprus government continues to advertise its “successful” economic...
Increasing signs of state and crony capitalism
The political and business elite of Cyprus are stifling equitable growth By Les Manison In an article in the Sunday Mail of January 14, 2018,...
Urgent need to reform Cyprus tax policy
By Les Manison A former finance ministry advisor writes an open letter to Finance Minister Harris Georgiades on the need to reform tax collection and...