#economy

Finance Minister Constantinos Petrides on Friday expressed satisfaction with the “excellent work” that has been done in relation to the absorption of EU funds, putting Cyprus in the first places ...

The current uptick in economic activity, following the doldrums of 2020 due to coronavirus-related closures, appears largely driven by high government spending that is projected to push public debt to record ...

The government will continue supporting economic activity so that after the pandemic is over, previous positive growth rates will return, Finance Minister Constantinos Petrides said on Saturday. In a written ...

The economy is expected to grow by more than 5.5 per cent in 2021, Finance Minister Constantinos Petrides said on Tuesday, as preliminary estimates showed a 12.9 per cent year-on-year growth in the ...

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 coupled with good decisions taken ...

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 reversal of reforms would harm ...

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 GDP in 2020, according to the Central Bank ...

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 the coronavirus-related measures – although the single ...

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 yet another extension to ...

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. Traditionally, the GDP per capita, ...

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 by September 2015 had reduced its ...

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 affected, while the impact on domestic ...

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 secretary said on Thursday. Addressing ...

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 Constantinos Petrides said on Wednesday. “...

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 century are universal in nature ...

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 Rating (ST FCR) at ‘BB+’ ...

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 the coronavirus pandemic. The package ...

€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 shrank by 5.1 per cent in 2020 ...

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 criticism over the handling of ...

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 the EU would also help ...

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 and the economy due to ...

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 ‘all other things being equal’. ...

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 date decrees on the lockdown ...