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...
Constantinos 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...
Coronavirus: ‘Government here to support real economy’, new support measures announced (updated)
The government on Saturday announced additional support schemes for businesses and the self-employed affected by the latest Covid measures, including grants, payroll subsidies, loan repayment...
Petrides testifies for two hours to panel probing citizenship programme
Finance Minister Constantinos Petrides testified for two hours and 40 minutes on Tuesday before a panel probing the island’s citizenship by investment programme, which was...
Petrides issues new appeal to MPs to pass budget
Finance Minister Constantinos Petrides on Thursday appealed to parliamentary parties to back the 2021 state budget as it constitutes the main weapon for tackling the...
Our View: Government should not rush into another lockdown
It was reassuring to hear Finance Minister Constantinos Petrides say the government would try to avoid a new general lockdown. Another lockdown would be disastrous...
FinMin to present state budget to MPs on Monday
Debate on the 2021 state budget will begin on Monday at the House finance committee. Finance Minister Constantinos Petrides will brief MPs on the course...
Diko leader’s slurs over passports is ‘pot calling the kettle black’, says Petrides
Finance Minister Constantinos Petrides said Friday Diko chairman Nicolas Papadopoulos knew well the citizenship by investment regulations he was accusing the government of flouting because...
Fitch says Cyprus’ NPEs likely to increase due to Covid-19 shock
Fitch ratings agency has affirmed Cyprus’ Long-Term Foreign-Currency Issuer Default Rating (IDR) at ‘BBB-‘ with a Stable Outlook. According to Fitch, Cyprus’ rating balances its...
Finance minister ups outlook for economy (updated)
Policies put in place by the government in response to the pandemic have succeeded, Finance Minister Constantinos Petrides said on Tuesday, upping economic predictions for...
Cyprus set to be ‘remade’
With €1bn in EU recovery grants, the scope of the changes is said to be unprecedented By Andrew Rosenbaum IN WHAT is being seen as...
Petrides to consult party leaders before drafting state budget
The president has instructed Finance Minister Constantinos Petrides to hold talks with political parties ahead of drafting the state budget for next year, the government...
Russia and Cyprus sign amended double taxation treaty
Russia and Cyprus on Tuesday signed a protocol amending the double taxation treaty following the conclusion of negotiations in August. “Signing the protocol ensures continuation...
Finance minister heads to Moscow to try and save double taxation treaty
Finance Minister Constantinos Petrides leaves for Russia on Sunday as head of the Cyprus negotiating team to discuss Moscow’s plans to scrap a deal that...