The 2024 state budget aims to safeguard fiscal stability while promoting green transition and digital transformation, ushering in a more modern economy, Finance Minister Makis Keravnos said. Keravnos presented the next year’s
Cyprus’ economy has suffered another setback from the Israel-Hamas conflict just as it appeared to be recovering from the COVID and the Ukraine war. While hoping for a swift end to atrocities
With three gold and two silver medals, Cyprus ranks third in The Economist’s economic pentathlon, which has calculated how the 27 EU countries perform on the five major challenges facing them. These challenges
International Monetary Fund (IMF) World Economic Outlook forecasts that Cyprus’ growth rate for 2023 will slow to 2.2% GDP, down from the 2.5% it had projected in April. For 2024, the IMF
Cost-of-living continued to hike in September, with consumers receiving the largest shock in their groceries, as fresh produce prices increased 45.8%, compared to last year when they receded 17.8%. The second biggest
Rising food and pump prices took annual inflation higher in September, surging to 4.0%, according to the Consumer Price Index (CPI). The CPI increased by 1.33 units, reaching 117.67 units, from 116.34
Another sorry chapter was added to the Halloumi saga, as cattle farmers, cheesemakers and the government fire at each other, accusing the other side of not sticking to a truce struck last
Visiting European Central Bank (ECB), Vice-President Luis de Guindos commended Cyprus’ remarkable economic improvement and the recent upgrade of its economy by two rating agencies. After meeting with Cyprus Central Bank Governor
Revenue from tourism recorded an increase of 26.9% for the first seven months to July, compared to the same period in 2022, according to official data. Tourism income up to July is estimated
Real monthly gross earnings of employees in Cyprus registered an annual drop in 2022, the first decline in seven years, showing the effect of high inflation on real incomes. According to annual
