#Cyprus economy

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 ...

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 ...

By Erol Riza Last week the two major opposition parties locked swords with Akel calling for a windfall tax on the “unexpected” earnings of the banks while Disy accused Akel ...

The depletion of equity through a dysfunctional banking system leads to a separation of ownership from entrepreneurship and by the relentless pursuit of the wealthy of a return without the ...

By Andreas Charalambous and Omiros Pissarides The EU has evolved relatively slowly and gradually over time, from a trade agreement between a small number of states in the 1950s, to ...

Immigration and the economy are the biggest worries for around 40 per cent of Cypriots going into the EU elections while climate action, gender equality and diversity, and digitisation of the ...

President Nikos Christodoulides on Tuesday presented what he called the “three pillars of the government’s economic strategy to attract investments” during a closed meeting with investors, fund managers and ...

Finance Minister Makis Keravnos said on Monday that there appears to be no immediate threat to the Cypriot economy stemming from developments in the Middle East, following a snap meeting. ...

President Nikos Christodoulides said on Friday that economic problems are not addressed with superficial proposals, referring to a recommendation made by Akel for taxing bank profits, underlining his readiness to ...

‘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 ...

President Nikos Christodoulides said on Monday that he is planning and discussing with the cabinet about new measures or extending measures in place already to deal with inflation. He added ...

The main challenges currently facing the EU are sluggish growth, low levels of investment, slow adaptation of technology, tight labour markets, as well as over-reliance on conventional forms of energy ...

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, ...