Eurogroup chief praises Cyprus’ ‘impressive recovery’
Eurogroup President Paschal Donohoe praised Cyprus’ “impressive recovery” from the coronavirus outbreak on Thursday, stressing that this performance was the result of good national policies...
economy
Petrides: Cyprus must return to prudent fiscal policies
Cyprus must gradually return to prudent fiscal and macroeconomic policies to bolster its economic standing, Finance Minister Constantinos Petrides said on Thursday, warning that a...
Economy forecast to grow 3.8% this year
Cyprus’ economy is forecast to grow by 3.8 per cent this year, although this will be in relation to a 5.1 per cent shrinkage in...
Coronavirus: Economy on the rebound track says minister
Finance Minister Constantinos Petrides on Monday unveiled the second supplementary state budget for 2021, a stimulus package aimed at continuing support to businesses struck by...
New House finance committee focuses on EU harmonisation
The new House finance committee held its first session on Monday after May’s parliamentary elections, where among others it discussed setting a deadline for passing...
GDP is not a valid indicator of welfare in a country
By Andreas Charalambous and Omiros Pissarides It is generally acknowledged that the ultimate objective of governments should be to improve the welfare of their citizens....
Side effects of ECB policies hindering sustained economic recovery
In the aftermath of the global financial crisis central banks substantially lowered interest rates to support the recovery of their economies. In fact, the ECB...
EU Commission sees economy growing 3.1 per cent in 2021
Economic activity in Cyprus contracted sharply in 2020, due to the Covid-19 crisis, though less than the EU average. The tourism sector has been severely...
Coronavirus: Economic slowdown smaller than anticipated, Sek says
The economic slowdown as a result of the pandemic is smaller than initially anticipated raising hopes of brighter days ahead, Sek trade union confederation general...
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...
The challenges of the global economic system
It is a system which appears to be compatible with different political perceptions By Andreas Charalambous and Omiros Pissarides The socio-economic challenges of the 21st...
Cyprus’ sovereign ratings affirmed by Capital Intelligence
Capital Intelligence Ratings (CI Ratings or CI) said it has affirmed the Republic of Cyprus’ Long-Term Foreign Currency Rating (LT FCR) and Short-Term Foreign Currency...
Coronavirus: ministers announce additional support package of €70m
The government on Friday announced an additional economic support package of €70m for businesses and employees affected by the extension of the measures to contain...
Coronavirus: Economy loses €1.1 billion in 2020
€1.1bn was lost to the Cyprus economy as a result of the coronavirus, the statistical service (Cystat) announced on Tuesday. According to Cystat, Cyprus’ GDP...
Ministers accuse Diko of playing ‘petty politics’ during a crisis
The government on said Monday that opposition Diko offered nothing of substance and raised obstacles to policies designed to support people, as it fought back...
EU recovery funds could be gamechanger for reforms, Petrides says
FINANCE Minister Constantinos Petrides hopes that the recovery and resilience plan being prepared by the government apart from absorbing close to a billion euros from...
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...
Our View: Can there be accurate economic forecasts during such an uncertain time?
One of the concepts that used to be taught to first-time students of economics was the Latin phrase ‘ceteris paribus’, which translated into English means...
Our View: The economy must reopen on February 1
When the health minister and the scientific advisory team submit their proposals at Monday’s presidential palace meeting about how to proceed after January 31, the...
Rejection of budget jeopardises recovery planning, Central Bank warns
The Central Bank of Cyprus (CBC) said on Wednesday that the rejection of state budget for 2021 by the parliament was a negative development that...