Economy Archives - Financial Mirror

Growth rate slows in March – CCLEI survey

The island’s economy is slowing, with the growth rate turning negative for the second month in a row, according to a leading indicator used to predict the future direction of economic movements

22nd April 2024

Cyprus/Economy

Trade deficit narrows in Jan-Feb

The trade deficit for the first two months of the year fell to €1,144.4 mln, compared to €1,929.6 mln in January-February last year, on a significant 32% drop in imports and a

10th April 2024

Cyprus/Economy

Cyprus appoints new ECB member, just in time

Cyprus appointed a new Central Bank Governor on Tuesday, just in time for Christodoulos Patsalides to attend the ECB monetary policy meeting in Frankfurt on Thursday. The appointment was announced on Monday

9th April 2024

Cyprus/Economy

State pension fund reaching critical levels

State borrowing must be reduced, says Fiscal Council The Fiscal Council, advising the Cyprus government on economic policies, has renewed a warning call that borrowing from the Social Insurance Fund has reached

7th April 2024

Cyprus/Economy

Cypriots still grappling with inflation woes

Consumers in Cyprus are still grappling with the lingering effects of previous inflation surges, despite a slowdown in the inflation rate to its lowest level in three years this March. The cost

5th April 2024

Cyprus/Economy

CI raises Cyprus outlook on lower fiscal risk, better NPLs

Capital Intelligence has revised upwards the sovereign ratings for Cyprus due to a “faster than projected decline in general government debt due, consistent primary fiscal surpluses, as well as proactive debt management.”

4th April 2024

Cyprus/Economy

Average salaries up 6% in 4Q 2023

The average salary in Cyprus grew by 6.2% in the fourth quarter of 2023, compared to the same period in 2022, according to provisional data released by the Statistical Service, offering some

3rd April 2024

Cyprus/Economy

Government introduces €35 mln support package

Following criticism for pulling the plug on an 8 cent fuel subsidy, the government announced a €35 mln package, including an extension to the electricity subsidy until the end of June. The

29th March 2024

Cyprus/Economy

CCLEI economic indicator about to flatline

A leading indicator used to predict the direction of economic movements in Cyprus in future months continues its downward trend and is about to flatline at 0% growth. The Cyprus Composite Leading

27th March 2024

Cyprus/Economy

Morningstar DBRS keeps Cyprus at BBB, ‘stable’ trend

Morningstar DBRS has confirmed the sovereign ratings for Cyprus, based on strong economic growth, but warned the island remains exposed to geopolitical shocks, and constrained by the small size of the services

25th March 2024

Cyprus/Economy