Finance minister meets banks over interest rates
Finance Minister Makis Keravnos on Tuesday met the bosses of commercial banks in a crunch meeting aimed at getting lenders to provide some relief to customers to compensate for rising ...
Crucial meetings to be held for energy link
Officials of the European Investment Bank (EIB) will be in Cyprus next month for talks with the government concerning the EuroAsia Interconnector project, the finance minister told MPs on Tuesday.
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Our View: The Finance minister and his misguided quest for bank control
Finance Minister Makis Keravnos appears to have made it his mission to put Cyprus’ banks under his control, even though he has no such authority. The latest idea he has ...
Cyprus announces intention to help fund Ukraine rebuilding
Finance minister Makis Keravnos said on Thursday evening that Cyprus will help fund the rebuilding of war-torn Ukraine.
He made the comments at a signing ceremony in Brussels where 16 EU ...
Flurry of activity over foreclosures on Monday
Finance Minister Makis Keravnos will present to legislators on Monday a government package of seven proposals to address the issue of foreclosures.
The package was submitted on Thursday in a ...
Our View: Change of economic tune is necessary
It was encouraging to hear Finance Minister Makis Keravnos defending the government’s decision to end the subsidy of all electricity bills and the reduction of the consumer tax on ...
Finance minister says government is monitoring fuel prices
Fuel prices have been significantly reduced and the government will review continuing a VAT cut, which expires on June 30, Finance Minister Makis Keravnos said on Friday.
Parties have already filed ...
Cyprus is the largest beneficiary of EIB support per capita in the EU
Cyprus is the leading beneficiary of European Investment Bank (EIB) support per capita with €250 million in funds received during 2022, EIB president Werner Hoyer said during a visit on Friday.
Hoyer ...
Finance minister, unions insist on need for more civil servants (updated)
Finance Minister Makis Keravnos and trade unions reiterated on Wednesday the need to hire more civil servants after the House finance committee this week refused to approve over 1,800 positions.
The ...
Finance Minister to participate in Eurogroup and Ecofin meetings in Brussels
Finance Minister Makis Keravnos will travel to Brussels this Sunday to participate in the Eurogroup and Ecofin meetings.
According to a press release issued by the Finance Ministry, Keravnos will ...
Government may lower VAT on more products, says finance minister
Finance Minister Makis Keravnos said on Monday that they are working towards lowering the VAT rate in general in Cyprus, adding that the government would mostly likely also further extend ...
Cypriot economy strong despite challenges, finance minister says
Despite the global uncertainty, the Cypriot economy is continuing a positive course in 2023, Finance Minister Makis Keravnos said.
Speaking at the forum of the Cyprus association of financial analysts (CFA) ...
Our View: Shopping basket app could help consumers
Two government measures for helping people cope with inflation are in the pipeline – reduction of VAT on basic consumer goods and the creation of a shopping basket app that will ...
Our View: Higher deposit rates, lower loan rates are a fantasy
Finance Minister Makis Keravnos wrote to associations representing the banks and loan-purchasing companies asking them to absorb part of the cost from the rise in interest rates so that loan ...
Electricity subsidies extended
Subsidies for electricity bills have been extended for another two months on Wednesday, at a cost of €21 million, according to a relevant cabinet decision.
Cabinet also approved a new two-month ...
Bad loans in Cyprus will not increase, finance minister assures
There are no concerns over an increase in bad loans for Cyprus’ banks, Finance Minister Makis Keravnos said on Thursday after a meeting with the European Central Bank’s executive ...
Tight timetables for implementation of Recovery plans a challenge, Finance Minister tells Ecofin
The tight timetables regarding the implementation of Recovery and Resilience Plans were described as a challenge by Finance Minister Makis Keravnos during the Economic and Financial Affairs Council of the ...