Economy

Jobless peaks at 34,300, worst since October

In April, the number of registered unemployed increased by around 3,000 from the previous month, with the biggest impact from the COVID-19 fallout felt in the retail sector, construction, technical services, and

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Cyprus fiscal deficit 5.7% of GDP in 2020

Cyprus posted a fiscal deficit of €1.19 bln, which corresponds to 5.7% of GDP, as the government tried to borrow its ways out of the pandemic, the Statistical Service said on Thursday.

Cyprus GDP growth projected at 3.3% for 2021

According to the University of Cyprus Economics Research Centre, the island’s GDP growth is projected at a slower 3.3% for 2021, accelerating to 3.6% next year. April’s growth forecast for 2021 was

Private equity not so private

By Michael Olympios Almost a decade ago, the apocalypse in the banking sector sent the Cypriot economy’s downgrading by rating agencies to junk, leaving many businesses overleveraged and undercapitalised. Banks’ enormous liquidity

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