Cyprus local credit card use up 22% in January-July

Local plastic card use by Cypriots rose by 22% in January-July 2008 when compared with the same period of 2007, the same pace as recorded in January-June
According to the JCC joint venture run by the commercial banks, total purchases using Cyprus-issued cards reached EUR 1,088.96 mln (EUR 1.1 bln) in the first seven months of the year.
Expenditure by Cypriots abroad rose in the same period by 29% to EUR 531.53 mln. Meanwhile, expenditure by foreigners in Cyprus was more subdued, rising by only 1% year on year in January to July to EUR 270.35 mln, compared with 2% in January-June.