A substantial annual increase of over 40% was recorded in tourism revenue for May as holiday arrivals climbed. According to the official data, tourism revenue in May – when 420,000 tourists arrived
Economic sentiment in Cyprus deteriorated in July due to weaker business confidence in the services sector and lower consumer optimism, according to a University of Cyprus index. The Economic Sentiment Indicator (ESI-CypERC)
GDP growth and inflation will drop to 3% in 2023, according to forecasts of the University of Cyprus’ Economic Research Centre. The ERC noted the projection for 2023 remains unchanged compared to
The Labour Ministry is close to striking a happy balance between labour union demands to scrap the 12% penalty clause imposed on people who retire early at 63 and the state budget.
The Fiscal Council has urged the government to be wary of expenditure increases, which may be obligatory to face challenges but could derail the state’s finances. In its interim report, the financial
Consumers were given a respite from hiking prices of essential goods in June powered by the war in Ukraine, which started last year, as 80% of products saw a decrease. According to
Trade Unions are demanding to unionise staff at Europe’s first super casino resort, City of Dreams Mediterranean, officially opened by President Nikos Christodoulides in Limassol. The employer considers it has the legal
The four-day week is gaining traction, as civil servants’ union PASYDY has officially tabled a demand to test drive the idea during the summer in a meeting with the Finance Ministry last
Cyprus’ annual inflation reached its lowest level in 25 months in June, hovering at 1.9%, mainly due to the decline in food prices. According to the Statistical Service, the Consumer Price Index
According to seasonally adjusted data, the number of registered Cyprus unemployed individuals in June reached its lowest level in the past 17 months. Based on the data maintained by the District Labour
