Capital Intelligence Ratings has affirmed the Republic of Cyprus’ long-term foreign currency rating (LT FCR) and short-term foreign currency rating (ST FCR) at ‘BBB-’ and ‘A3’, respectively, saying that the outlook on
Revenue from Cyprus’ ship management industry continued its upward trend in the second half of 2022, reaching €648 mln, up by 25.6% year on year. Throughout 2022, revenue from ship management amounted to
In April, economic sentiment deteriorated, weighed by a three-year low in consumer confidence battered by a cost-of-living crisis and weaker business activity, according to a University of Cyprus index. The university’s Economic
The government will remove VAT on some foodstuffs to relieve households from inflationary pressures and a hike in interest rates, announced Finance Minister Makis Keravnos. Despite March seeing the lowest inflation rate
Finance Minister Makis Keravnos is launching one more effort to convince Cypriot banks to absorb part of the increase in mortgage rates as he meets the banking association on Tuesday. The meeting
The government is considering removing VAT on some foodstuffs to relieve households from inflationary pressures and a hike in interest rates. Despite March seeing the lowest inflation rate for 13 months, households
Cyprus will maintain a sizeable fiscal and primary surplus keeping public debt on a downward path estimated to drop below the 60% GDP eurozone criteria by 2028, the IMF said. According to
The International Monetary Fund (IMF) maintained its projection for Cyprus’ economic growth in 2023 at a slower 2.5%, while real GDP growth is expected to pick up the pace next year. In
In February, the monthly seasonally adjusted volume of retail trade increased by 1.6% in Cyprus and 8.3% annually, the highest increase among EU states, according to Eurostat. During the same month, the
Despite inflationary pressures receding, March saw the lowest inflation rate for 13 months, but households continue to feel the cost-of-living pinch as they spend more on food. According to the Cyprus Statistical
