Stronger rebound for Cyprus in 2021

Cyprus will boast a stronger than expected recovery of 5.5% GDP growth this year following the coronavirus pandemic, according to European Commission forecasts. The Finance Ministry noted the strong recovery recorded in

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Consumers fret over price hikes before Christmas

Consumer associations are concerned over spiralling prices this Christmas making the festive table and gift-giving more expensive. In comments to the Financial Mirror, the Cyprus Consumer Association chair, Marios Drousiotis, said prices

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Annual car sales drop 6%

Vehicle registrations declined 6% in the first ten months of 2021, but bikes and mopeds recorded significant increases, data released by the Cyprus Statistical Service (CyStat) show. In October alone, the total

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Risk of a new NPLs iceberg

The decisions made by the European Central Bank (ECB) in the early stages of the Covid-19 pandemic are considered a milestone for the European financial market. The decisions were diffused by unprecedented

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Private debt reduced to €56 bln in Q2

In Cyprus, private debt (households and non-financial corporations) declined to €56 bln in Q2 2021, marking a reduction of €500 mln from the previous quarter, according to financial data from the central

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UCy revises real GDP growth upward

Real GDP growth is projected at 5.4% in 2021 and 4.1% in 2022, upward revisions mainly driven by the strengthening recovery during the second quarter of this year, according to the University

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Banks must heed climate crisis

Cyprus Central Bank Governor Constantinos Herodotou urged all stakeholders to accelerate efforts to deal with the impact of climate change as an ECB stress test for banks looms next year. Addressing the

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