Cyprus general government debt spiked to 113% of GDP (€24.56 bln) in April, reflecting the borrowing spree the Finance Ministry mounted to mitigate the impact of the coronavirus outbreak. Cyprus’ debt bloated
The European Central Bank (ECB) has bought Cypriot bonds amounting to €481 mln as part of the €750 bln Pandemic Emergency Purchase Programme (PEPP) launched as a response to the coronavirus outbreak.
Green shoots of recovery are emerging post-COVID-19 lockdown as the economy begins to breathe again, said Finance Minister Constantinos Petrides. Cyprus President Nicos Anastasiades and Petrides discussed the battered economy with the
By Christiana Lambrou As the COVID-19 pandemic struck in early 2020, advanced technologies enabled people around the world to remain connected and still be able to perform their day to day activities
The government seeks parliamentary approval for a supplementary budget of €220 mln to support small businesses and jobs as Cyprus emerges from a two-month lockdown to curb coronavirus. Speaking before the House
Cyprus will suffer one of its deepest economic contractions due to COVID-19 lockdown measures, but the easing of restrictions will enable a short, sharp, shock. This is according to a complex basket
Cyprus Central Bank Governor, Constantinos Herodotou warned the economy will experience a “serious recession” in 2020 due to the coronavirus pandemic fallout but for how long is unknown. “The economy’s prospects for
An improved government financial package for reviving the economy after COVID-19 lockdown will act as the confidence boost needed for a quick recovery, said Cyprus Finance Minister Constantinos Petrides. Petrides presented on
Cyprus welfare spending spiked to €513 mln in the first four months as the state launched support programmes to safeguard employment as people stayed home during the coronavirus outbreak. According to data
Non-performing loans (NPLs) in the Cyprus banking system declined to €8.97 bln in 2019 but the NPL rate was still 27.9% of all loans. According to data released by the Central Bank
