Cyprus’ Fiscal Council, advising the government on economic policies, is worried that borrowing from the Social Insurance Fund has reached a “tipping point” threatening to derail public finances. In a note to
Political parties are increasing the heat on banks to absorb part of the increased cost of borrowing from interest rate hikes burdening the economy and households. As the European Central Bank prepares
In July, the Prices Observatory conducted by the Consumer Protection Service (CPS) recorded increased prices for 32 out of 45 categories of staple foods. There were price deductions for 13 staple food categories. However,
Eurobank Cyprus, the local subsidiary of the Eurobank Group with a presence in six countries, has acquired the 17% stake in Hellenic Bank held by Pimco to become the local lender’s biggest
Cyprus banks are feeling the heat from political parties and the government to absorb part of the increased cost of borrowing created by interest rate hikes burdening the economy and households. According
The Finance Ministry fended off accusations fired by the opposition that government policy has taken its toll on the economy. “The Cypriot economy continues its upward trend, and unlike other European countries
Seasonally adjusted GDP in Cyprus dropped by 0.4% in the second quarter of 2023, compared with the previous quarter but was up by 2.3% annually, according to a flash estimate by Eurostat.
Cyprus is not expected to face any further consequences following the decree signed by Russian President Vladimir Putin for suspending certain provisions of international taxation agreements, said the Finance Ministry. A statement
Inflation continued to slow in July, rising to 1.5%, the lowest rate since March 2021. July 2023 Consumer Prices Index rose 0.92 points to 115.30 points from 114.38 units in June, according to
The seasonally adjusted unemployment rate in Cyprus dropped in June from 2022 while remaining stable compared to May, according to Eurostat. Unemployment in Cyprus stood at 4.8% in June, remaining stable since
