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...
economy
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...
Economy under scrutiny at parliament on Monday
The ministers of labour and finance will on Monday brief the House finance committee on the state of the economy and the challenges ahead, as...
Coronavirus has exposed the vulnerabilities of Cyprus’ business model
Before the crisis of 2013, the economy was founded on huge piles of risky debt. Little has changed since then By Les Manison Prior to...
Russia initiates scrapping of taxation deal with Cyprus (updated)
By Elias Hazou and Philippe Orphanides Russia’s finance ministry said Monday it would initiate a process to scrap an agreement with Cyprus aimed at avoiding...
Recession economics a recipe for disaster
Denial economics is the practice of pretending that pumping money into the economy will fix the recession caused by the pandemic By Savvakis Savvides Many...
Can four-day work week save economies?
As countries in Europe and North America emerge from lockdown and start trying to rebuild their devastated economies, the great concern is jobs. Unemployment in...
Coronavirus has exposed economic inequalities
The coronavirus and the efforts to combat its devastating impact have brought into sharper focus the inequalities, fragilities and structural weaknesses of the economy By...
Industry leaders call for tourism upgrade
Price correction needed to attract new investors By Gina Agapiou and Andrew Rosenbaum Tourism industry leaders called this week for the sector to be upgraded...
New Wave movement says economic plan fails to set foundations for the future
Cyprus should expect to face serious challenges in the near future because of its structural weaknesses especially its overdependence on tourism and construction, the New...
Our View: Pandemic has drastically changed conventional economic thinking
Almost everyone appears happy with the government’s new raft of measures aimed at assisting the restart of the economy after the two-month lockdown. The credit...
Central Bank: all previous projections ‘upside down’, expect ‘serious recession’
Central Bank Governor, Constantinos Herodotou, expects the economy to experience a “serious recession” in 2020 due to the pandemic, he said on Thursday. “The economy’s...
Petrides optimistic Cyprus will cover lost economic ground
The gradual easing of restrictions and reactivation of the economy will enable Cyprus to cover lost ground, Finance Minister Constantinos Petrides said on Thursday, as...
Thrashing out new economic plan
President Nicos Anastasiades on Monday convened a late meeting with business groups and the ministers of finance and labour, as the government considers its next...
Building the future we owe our children
In the May 14 issue of the Sunday Mail, former president George Vassiliou argued that the economic impacts of the coronavirus will be felt way...
