The technocrats of the Troika continued on Tuesday morning their meetings with Finance Ministry officials, at the Finance Ministry, on issues related to the Cyprus Memorandum, according to CNA sources. The meetings between the two sides will continue this afternoon. Meanwhile, CNA sources said that the Troika and Finance Ministry are expected to reach an

Full national accounts figures have revised down the contraction in the fourth quarter to a seasonally adjusted 3.3% from a previous flash estimate of 3%. On a non-seasonally adjusted basis real GDP declined by 3.4% over the same quarter of 2011. The decline was broadbased. Cystat reported that negative growth rates were recorded for construction,

Recessionary conditions pushed down the trade deficit in 2012, which fell to EUR 4,320.0 mln (4.3 bln) in January-December 2012 from EUR 4,906.5 mln in 2011. The main reason was a sharp fall of imports. Total imports/arrivals (covering total imports from third countries and arrivals from other Member States) in January-December 2012 amounted to EUR

The consumer price inflation rate fell to 1.6% in February from with 1.8% in January 2013 and 3.1% in February 2012. The EU-harmonised inflation rate also fell to 1.8% in February, compared with 2.0% in January 2013 and 3.1% in February 2012. Compared with the previous month, prices measured by the national consumer price index

The government hopes that the first casinos will begin their operation in Cyprus in two years and has asked the Cyprus Tourism Organization (CTO) to update the studies they have carried out in 2007, new Minister of Tourism George Lakkotrypis has said. The Minister on Tuesday briefed the House Commerce Committee on all issues that

The Cyprus Stock Exchange (CSE) has no official information from the Government about the possibility of possible privatization, as mentioned during today’s meeting of the parliamentary committee of finance, which examined the annual budget of this semi-governmental organization. CSE President George Koufaris said that the Stock Exchange remains an important driver of economic growth and

Cyprus’ trade deficit was recorded at €4,320.0 million in January-December 2012 compared to €4,906.5 million in the corresponding period of 2011. According to data released by the Cyprus Statistical Service in its monthly report on Trade Statistics total imports/arrivals, from EU and third countries in the period between January-December 2012, amounted to €5,740.5 million as

Androulla Vassiliou, European Commissioner for Education, Culture, Multilingualism and Youth, has said that youth unemployment now stands at 23.6% in the EU, where some 5.7 million young people under 25 are unemployed and at work, young people are strongly over-represented in temporary jobs. Speaking Monday at the EU Youth Conference-Opening Ceremony in Dublin, she thanked