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...
economy
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...
One in five Cypriot firms expect permanent reductions in staff – EIB survey
One in five Cypriot firms (21 per cent) expect a permanent reduction in their staff levels because of the Covid-19 pandemic, with the figure rising...
EU sees Cyprus GDP dropping by 6.2% in 2020
Cyprus could see a 6.2 per cent drop in GDP in 2020 amid the coronavirus fallout and risks a prolonged economic downturn because of the...
The challenges facing the banking and financial sectors
By Andreas Charalambous and Omiros Pissarides The well-known economist Rüdiger Dornbusch argued that a crisis takes a long time to materialise but it then happens...
Cyprus records deficit of €800m in Q2 due to pandemic
The general government posted a deficit of €800 million during the period of April – June 2020 compared with a surplus of €140 million in...
Finance minister ups outlook for economy (updated)
Policies put in place by the government in response to the pandemic have succeeded, Finance Minister Constantinos Petrides said on Tuesday, upping economic predictions for...
Cyprus set to be ‘remade’
With €1bn in EU recovery grants, the scope of the changes is said to be unprecedented By Andrew Rosenbaum IN WHAT is being seen as...
Coronavirus: Finance minister upbeat, central bank very concerned about NPLs
Finance Minister Constantinos Petrides sought to strike an upbeat note on Monday, saying that economic output is forecast to shrink by about 7 per cent...
Coronavirus: Policymakers fly blind on economic health
By Edward Hadas Policymakers want to heal the economic wounds caused by Covid-19. Unfortunately, they are driving without headlights on an unfamiliar road. The confusion starts...