Inadequate institutional quality damaging Cyprus economy
Government inefficiency, corruption and bad policies based on ignoring the huge amount of debt will come back to bite us
By Les Manison
Research articles contend that the quality of ...
Articles
European Commission harming Greece and Cyprus with questionable forecasts
By Les Manison
The autumn 2021 forecasts of the European Commission for Greece and Cyprus are excessively optimistic particularly on inflation rates and the government finances. In making these fanciful forecasts ...
Serious inflationary and political pressures on 2022 government budget
The government budget for 2022 presented to the House of Representatives on October 7 calls for the overall deficit to be reduced substantially from an estimated 5 per cent of GDP in 2021 to 1.1 ...
Unprofitable Cypriot banks need to elevate productive lending and reduce NPL sales
By Les Manison
Comparative data for 2021Q2 published by the ECB under its Single Supervisory Mechanism, reveal that the three largest Cypriot banks performed poorly relative to most of their ...
ECB policies contributing to ultralow interest rates, inflation and inequalities
Prospects for growth in southern European countries are in jeopardy
Following the global recession and the European sovereign debt crisis the ECB adopted a policy of monetary accommodation to raise ...
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 relatively well, with considerable ...
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 by September 2015 had reduced its ...
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 must narrow that gap
It is ...
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 days there has been much advertising ...
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 and employment “estimates” for 2020 ...
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 real GDP contracted by just over 5 per cent in 2020 ...
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 devastating impact of the ...