DBRS Morningstar confirms Cyprus at BBB (low)
DBRS Ratings Limited (DBRS Morningstar) confirmed Cyprus’s Long-Term Foreign and Local Currency – Issuer Ratings at BBB (low) and changed the trend to Positive from...
Home » economy
economy
Fiscal Council warns of internal and external risks to the economy
The Fiscal Council on Wednesday said Cyprus’ economy is still facing internal and external dangers including too much bureaucracy, non-performing loans and Brexit. According to...
Civil service pay, Gesy risks to economy says EC forecast
The European Commission expects a deceleration of foreign direct investment connected to the island’s citizenship by investment scheme as stricter requirements came into force, according...
High debt, NPLs could magnify any external shocks to Cyprus economy, experts say
Economic experts on Tuesday debated whether the recovering Cyprus economy was ready to weather any external shocks after putting its house in order for the...
Developers defend passport scheme
THE island’s land and building developers association (lbda) on Friday defended the government’s investment for citizenship programme in the wake of revelations that family members...
Georgiades recounts dark days of March 2013 banking crisis
A speech by Finance Minister Harris Georgiades late Tuesday revealed for the first time how the government was grasping at straws to keep the economy...
Cyprus and Slovenia pledge to enhance economic cooperation
Cyprus and Slovenia on Friday agreed to enhance economic cooperation during a visit to the island by Slovenian Foreign Minister Miro Cerar. Speaking after a...
Cyprus to borrow €1.25bn from international markets in 2020
Cyprus’ financing needs for 2020 to be covered by bond issuances in the international capital markets amount to €1.25 billion, the Finance Ministry’s Public Debt...
IMF revises downwards projections for Cypriot economy
The International Monetary Fund downgraded its projections for the Cypriot economy as part of the slowdown of the global economy, due to subdued trade and...
Greek and Cypriot finance ministers discuss enhanced economic cooperation
Cyprus and Greece’s finance ministers Harris Georgiades and Christos Staikouras respectively on Monday announced enhanced cooperation on economic issues between the countries, following a meeting...
Steps being taken to ease economy bottlenecks says minister
Energy costs, the availability of finance, access to digital infrastructure, the availability of skilled staff and uncertainty about the future have been identified as the...
Addressing inefficiencies in justice system ‘key to improving business environment’
Addressing inefficiencies in the justice system in Cyprus is key for improving the business environment and the enforcement of claims, the European Commission said on...
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,...
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...
