#Cyprus economy

Cyprus’ economy is projected to maintain its resilience in 2025, with an anticipated growth rate of 3.1 per cent – significantly higher than the EU average – Finance Minister Makis Keravnos said on Friday. ...

With sound management of public finances, the economy will continue performing well in the next few years, but despite this there is no room for complacency, the finance minister said ...

A large number of countries are facing increasing problems with pension sustainability and adequacy. To address this challenge, some European countries have adopted a three-pillar framework, which is based on: ...

Cyprus is the “champion in the housing crisis”, reported Akel mouthpiece Haravghi last Monday. The party has been very critical of the government’s housing policy because it has been ...

The role of the state in the field of investments is becoming increasingly important, as, over the coming decades, additional funds will be required for the purposes of: (a) tackling ...

Article 9 of the Constitution of the Cyprus Republic states that “Every person has a right to a decent existence and to social security”. The aim of this article is in ...

The government now aims for the 2024 growth rate to exceed 4 per cent, government spokesman Konstantinos Letymbiotis said, following a flash estimate by the Statistical Service for a growth rate of 3.6 ...

Decision-making regarding appraisal, risk assessment and management of public investment projects as well as possible partnership agreements with the private sector are taken with increasingly little consideration of the potential ...

By Andreas Charalambous and Omiros Pissarides The world economy is currently performing better than expected. The recession, which many analysts had predicted as an inevitable result of the pandemic and ...

Cyprus banks are failing in giving decent interest rates on customer deposits and in providing sufficient credit at reasonable interest rates to businesses and households to support balanced economic growth ...

Under the current Cyprus government its policies are increasingly serving the interests of the few rather than the needs of the many. This is particularly the case in the management ...

Global credit rating agency, Morningstar DBRS, has upgraded its growth forecast of the Cypriot economy by 0.3 per cent in 2024 and by 0.1 per cent in 2025, compared to its forecast last March.  ...

The evaluations of international organisations, most recently the International Monetary Fund (IMF) and Fitch rating agency, confirm the satisfactory performance of the Cypriot economy. The growth rate reached 2.5 per cent ...

Cyprus on Saturday welcomed an upgrade to the economy by ratings agency Standard & Poor’s, who updated long-term ratings to ‘BBB+’ from ‘BBB’. The agency also assigned a positive ...

‘Cyprus’ economy is doing better than most of EU’ (Update) By Tom Cleaver Finance Minister Makis Keravnos said on Friday that Cyprus’ economy is “operating at a better level than ...

The electricity subsidy is to be extended until the end of June as part of the government’s latest package of measures aimed at alleviating the cost-of-living crisis. The measures ...

Recent statements by Cyprus bankers that the profitable activities of banks are contributing importantly to the good performance of the Cyprus economy and that large bank profits emanate mainly from ...

By Andreas Charalambous and Omiros Pissarides In recent decades, a number of factors have contributed to a containment in defence spending, including: (a) the end of the cold war which, ...

The government aims to further support the growth of the financial services sector by bolstering the relevant regulatory framework, by strengthening supervision and by ensuring effective enforcement, President Nikos Christodoulides ...

Cyprus has submitted to the European Commission the revised Recovery and Resilience Plan, incorporating the REPower EU chapter with additional funds of €104 million, as well as revised timeline of landmarks, ...

The impact of Turkey’s economic embargo on the Republic of Cyprus amounts to around one percentage point of the Gross Domestic Product (GDP) annually. According to the data collected ...

The populists of the political parties have found a new, worthy cause in the last few weeks – to protect people from rising interest rates. They appear to have forgotten that ...

By Andreas Charalambous and Omiros Pissarides With the easing of the pandemic and the gradual reactivation of economies, rising inflation was initially perceived as a transitory phenomenon. The authorities’ underestimation ...

Former Finance Minister Constantinos Petrides has slammed down hard on the narrative propagated through the media – that it was MPs who ‘saved the day’ by passing legislation in the nick ...