Finance Minister Makis Keravnos said the government is taking measures against rising prices and, when necessary, will intervene. He said Cyprus is obliged to start repaying a loan of €6.5 bln, which must be
Projected GDP growth of the Cyprus economy has been revised downward to 2.6% from an initial 2.8%, while next year’s momentum is expected to pick up, said Finance Minister Makis Keravnos. The
The banking sector has enhanced its strength and resilience through 2023, despite the turmoil of recent economic and geopolitical events, Cyprus Central Bank governor Constantinos Herodotou said. In his speech on Wednesday at the
Cypriot banks have made more profit from the increase in interest rates than their counterparts in the European Union, said Moody’s Senior Analyst Christos Theofilou. He told news site Stockwatch that Cypriot
The value of Cypriot bonds held by the Eurosystem fell below €7 bln as the European Central Bank continues to deleverage its balance sheet in an effort to tame inflation. Based on
A significant annual increase of 17.2% was recorded in the number of job vacancies in the second quarter of 2023, while a 5.7% quarterly rise was recorded. According to data by the
Employees retiring will no longer have to wait almost half a year before they receive their first pension from state coffers, declared the Labour Ministry on Tuesday. The ministry announced that the
President Nikos Christodoulides has urged banks to take concrete steps in absorbing some of the increased cost of borrowing from interest rate hikes burdening the economy and households. During an interview with
The number of registered unemployed decreased in August, both on an annual and monthly basis, according to data released Tuesday by the Statistical Service. Based on seasonally adjusted data reflecting the unemployment
Amid a rising wave of attacks and anti-migrant demonstrations, authorities and businesses warn that the economy would collapse should foreign labour be eliminated. In comments to news site Stockwatch, Labour Minister Yiannis
