The International Monetary Fund (IMF) warned the government against increasing the Cost-of-Living Allowance while pointing to threats posed by a possible rise in Non-Performing Loans due to hiking interest rates. The IMF
The Finance Ministry has stressed the importance of having stable legislation regulating out-of-court auctions in tandem with an effective insolvency framework to achieve a reduction of bad loans. “It is extremely important under
Finance Minister Makis Keravnos has told Cyprus banks to lower their interest rates on loans in a bid to get ahead of a possible new toxic loan crisis for the banking sector,
Consumers in Cyprus are not taking well to increased prices at hospitality venues, pushed up by hiking costs of raw materials and energy, as owners report a steep drop in their business.
The Central Bank of Cyprus (CBC) has marginally pushed up its projections for GDP growth this year citing the slightly improved prospects in the external economic environment and the anticipated lower energy
Annual inflation in February rose by 6.7% as fuel prices continued their downward trend after hitting an all-time peak last summer. According to the Cyprus Statistical Service, the increase in the cost
Cypriots can expect an Easter shock as food prices rise, according to the latest survey by the Consumer Protection Service, while market stakeholders warn of further hikes. According to the Commerce Ministry’s
The Central Bank is concerned over a possible rise in non-performing loans following a series of increases in interest rates, as it calls on banking institutions to take pre-emptive measures. Cyprus Central
Businesses in Cyprus say they are being pushed to the brink as rising interest rates are adding to their other problems of increased costs of raw materials. Cypriot banks’ practice of keeping
Supermarkets and retailers have signalled a new wave of price hikes on commodities, especially foodstuffs, as goods importers are considering adjusting their invoices quoting increased costs. Marios Antoniou, general secretary of the
