Anastasiades meets EBRD chief and EU budget commissioner
President Nicos Anastasiades met on Monday morning with the head of the European Bank for Reconstruction and Development (EBRD), Suma Chakrabarti, at the presidential palace,...
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Number of people at risk of poverty falls
Economic development in Cyprus is slowly but surely fostering increased social cohesion, Finance Minister Harris Georgiades said in a written statement on Tuesday, after the...
Lebanon to announce state of economic emergency, plan to accelerate reforms
Lebanon will declare an economic emergency and the government has begun work on a plan to accelerate public finance reforms, its prime minister said on...
Cyprus posts fiscal surplus in first seven months
Cyprus posted a fiscal surplus of €695.8m, or 3.2 per cent of GDP in the first seven months of the year, up from €488.5m in...
Moody’s warns over small economy and high debt level
The credit profile of Cyprus (Ba2 stable) reflects its small but wealthy economy, improved economic resilience and the government`s fiscal outperformance in the wake of...
Cyprus is ‘not competitive’, own report finds
The first-ever report from the island’s competitiveness council presents ‘mixed picture’ CYPRUS’ competitiveness suffers from a weak business sector, low entrepreneurship and firm dynamism, relatively...
Real GDP growth will slow in 2019, UCy says
The University of Cyprus’ Economics Research Centre has predicted that real GDP growth will slow from 3.9 per cent in 2018 to 3.4 per cent...
MPs ignore warnings, freeze foreclosures (updated)
Parliament on Friday voted to temporarily suspend foreclosures on properties that could be eligible for inclusion in a state borrower relief scheme but also changed...
Economy settling into ‘growth phase’ Hellenic says
Cyprus’ ‘recovery phase’ has passed and the economy is settling into its ‘growth phase’, Hellenic Bank’s Economic Research Department said on Tuesday. In its Economic...
Sustained reform key to mitigating Cyprus’ economic risks, ESM warns
Cyprus regained an investment grade rating in 2018 thanks to strong economic growth, a prudent fiscal policy, and a more resilient financial sector, and the...
Reform, reform, reform, Fiscal Council says
By Gregoris Savva Cyprus needs to implement reforms, boost competitiveness and maintain fiscal surpluses, President of the Fiscal Council Demetris Georgiades said on Thursday. External...
Central bank governor says money laundering fight should not delay honest transactions
Cypriot banks must develop a culture of prevention and not reaction when it comes to economic uncertainties, Central Bank governor Constantinos Herododou said on Wednesday....
Brussels sees delays on key reforms in Cyprus
The Cyprus economy will continue to grow, fiscal performance is solid, but external headwinds are increasing and significant domestic vulnerabilities remain, while key reforms, including...
Civil servants being ‘pushed to sue’ en masse over pay cuts, Georgiades says
Various law firms are soliciting civil servants, encouraging them to file class-action lawsuits against the state over the latter’s refusal to reimburse them for pay...
Turkish Cypriot ‘PM’ pledges new direction over Cyprus problem
New Turkish Cypriot ‘prime minister’ Ersin Tatar has said he would soon be taking new steps regarding the Cyprus problem and the economy, Turkish Cypriot...
ESM’s chief economist calls for Cypriot prudence as external risks loom
By Gregois Savva Rolf Strauch, the European Stability Mechanism’s (ESM) chief economist called for the continuation of prudent economic policies and keeping fiscal buffers as...
Bad debts will fall to single digits, finance minister predicts
The government aims to reduce bad debts to single digits, Finance Minister Harris Georgiades said on Wednesday, as the cabinet approved the strategic fiscal policy...
Anastasiades: difficult decisions have produced stronger economy
President Nicos Anastasiades said on Tuesday the government will continue to responsibly promote the necessary reforms to the economy that will aid all people. Speaking...
European Commission sees economic growth staying strong
Cyprus’ economic growth is expected to remain strong, driven by domestic demand, but downside risks are on the rise, according to the European Commission’s Spring...
Cyprus aims to maintain high surpluses and put debt on downward path
Cyprus aims at maintaining high primary surpluses and use windfall gains to reduce its high public debt or boost its cash buffers, thereby placing its...