Coming tax reform will include carbon and fossil fuel levies, Petrides says (Updated)
The government plans to go ahead with taxation reform after 20 years, including raising the corporation rate and introducing carbon tax and fossil fuels taxes...
Constantinos Petrides
Petrides suggests Pasydy using blackmail tactics over civil service reforms
Finance Minister Constantinos Petrides on Sunday launched a scathing attack on public service union Pasydy general-secretary Stratis Mattheou who blamed the government for a delay...
Petrides says current inflation hike seen as transient
Finance Minister Constantinos Petrides voiced concern on Thursday over the risk to the economy from rising prices but said that inflation is currently viewed as...
Next challenge is implementing recovery plan, Petrides says
Finance Minister Constantinos Petrides on Friday expressed satisfaction with the “excellent work” that has been done in relation to the absorption of EU funds, putting...
Coronavirus pandemic not managed to hold back banking sector
Despite the ongoing Covid pandemic, the Cypriot banking sector has achieved remarkable progress and was steadily headed towards viability, Finance Minister Constantinos Petrides said on...
Recovery scheme ‘could add 7 per cent to GDP’, says Petrides
The successful implementation of the €1.3bn Recovery and Resilience Scheme is very important to public finances and the island’s growth prospects, Finance Minister Constantinos Petrides...
Finance minister confident unemployment will remain low
As the economy recovers, the government aims at keeping unemployment levels low to safeguard people’s revenues and roll out targeted policies including the introduction of...
Budget for 2022 to be tabled by end of September
The coming months, and 2022 will be crucial for ensuring the sustainability of public finances, Finance Minister Constantinos Petrides has said. His ministry is currently...
Economy expected to grow over 5% in 2021
The economy is expected to grow by more than 5.5 per cent in 2021, Finance Minister Constantinos Petrides said on Tuesday, as preliminary estimates showed...
Petrides: Cyprus must return to prudent fiscal policies
Cyprus must gradually return to prudent fiscal and macroeconomic policies to bolster its economic standing, Finance Minister Constantinos Petrides said on Thursday, warning that a...
Path to recovery ‘aligned with sustainable development goals’
Cyprus’ path to recovery “must and will” be aligned to sustainable development goals` Finance Minister Constantinos Petrides has said. Speaking at the virtual UN High-Level...
Government ups development spending despite pandemic says minister
Despite the crisis caused by the pandemic the government has increased development spending to boost the recovery, Finance Minister Constantinos Petrides has said. Speaking on...
With elections over, time to push reforms through says finance minister
Finance Minister Constantinos Petrides called on parties on Tuesday to leave the elections behind and concentrate on pushing through reforms needed by the country. Petrides...
Improved GDP sees estimate for growth in 2021 upped
Cyprus’ real GDP declined by an annual 1.6 per cent in the first quarter of 2021 but maintained momentum compared with the fourth quarter of...
Public debt climbs to historic levels due to increased pandemic public support
Cyprus’ public debt reached €26 billion, or 124 per cent of GDP at the end of February, pushed by increased government borrowing to support the...
Plan unveiled to revitalise old Nicosia
The government’s plan for revitalising old Nicosia – an endeavour with an approximately three-year timeframe – was presented to stakeholders on Tuesday by Finance Minister...
Petrides: we must all look at the big picture
Cypriots need to be in one accord and make the structural reforms needed by the country to set robust foundations for the future, Finance Minister...
Ceiling for housing and business loan subsidies extended
The government announced Friday it was extending the ceiling for housing and business loans included in its interest rate subsidy scheme, as well as its...
Cyprus to start reducing debt and cash reserves as situation normalises
The government’s cash reserves amounted to €3.84 billion at the end-2020, approximately 20 per cent of the island’s GDP, despite pressure on both public finances...
Petrides noticed serious shortcomings in citizenship programme in 2017, probe hears (updated)
Major flaws in the citizenship-by- investment (CBI) programme’s procedures were noticed in 2017 by then interior minister Constantinos Petrides who started drafting a code of...
