#Cyprus economy

Cyprus’ credit rating was recently upgraded from Baa2 to A3 by Moody’s. The double upgrade reflects, firstly, the improvement in the country’s fiscal indicators. Public debt has fallen ...

President Nikos Christodoulides on Saturday hailed Cyprus’ upgrade to an ‘A-’ long-term credit rating by Standard & Poor’s Global Ratings, marking a significant milestone for the country’s 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 ...

The final version of a digital citizen app is set to be presented on Wednesday in the framework of the second Cyprus-Greece summit, President Nikos Christodoulides said on Monday. He ...

In the immediate years after the Cyprus financial crisis of 2012/2013 there was a compelling need to stabilise government finances with austerity and banks with credit restraint, however, such policies have ...

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: ...

The World Bank said on Thursday the ongoing conflict between Israel and Hezbollah has caused $8.5 billion in damage and losses to Lebanon, with final figures expected to be significantly higher ...

The year 2025 will be “much more difficult” economically than previous years for Turkish Cypriots, the north’s ‘economy minister’ Olgun Amcaoglu said on Thursday. Speaking to the north’s public ...

By Loukis Skaliotis In a previous article I commented on the need for the world community to restructure the UN if it is to play a more effective role in ...

In a previous article, we referred to the economic challenges faced by the EU. Some analysts and reputable media express the view that Germany is currently the “sick man of ...

The Cyprus government’s budgets for 2025 to 2027 presented to the House of Representatives in October 2024 constitute business as usual with just a mechanical updating of the government finance estimates for 2024. ...

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 way the government is carrying out economic policy should worry everyone. Although it claims that fiscal discipline and prudent spending are its priorities its erratic decisions do not really ...

In managing the Cyprus economy, decision-makers focus on real GDP growth and whether the government is generating surpluses. Indeed, government officials backed by the European Commission, the IMF and numerous ...

In Brussels, the talk of the town is a report on the future of European competitiveness, calling for fundamental economic reforms to avoid a “slow agony” for the European economy. ...

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 ...

Economic theory has its roots in antiquity. As early as the 18th century BC, the Babylonian King Hammurabi’s Code includes references to property rights, contracts, credit and economic justice. ...

The Cyprus economy recorded a rate of growth of 3.7 per cent in the second quarter of this year in comparison to the corresponding period of 2023, according to Eurostat. It was ...

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 ...

By Andreas Charalambous and Omiros Pissarides Over the last 15 years, particularly after the financial crisis of 2008, the role of central banks (CBs) in developed economies has expanded and become even ...

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 ...