Cyprus’ economy slowed in 2022; however, the island’s Gross Domestic Product continued to grow past €24 bln, surpassing pre-coronavirus 2019 levels. According to the data released by the Statistical Service, the economy
Cyprus’ central government debt dropped to €23 bln, marking a reduction of 3.9% year on year, according to the Public Debt Management Office (PDMO). Government debt is over 99% of total debt,
The inflation rate dropped by 1.4 percentage points in January, compared to the previous month, as consumers were given a respite from hiking fuel prices. According to the latest data released by
Cypriot families are digging deeper into their pockets to make ends meet at the end of the month than others in major European countries. According to Numbeo data, compiled by Phileleftheros daily,
President-elect Nikos Christodoulides will have his hands full trying to keep the peace among social partners, as trade unions are pressing for remedies to incomes under threat. With the restoration of the
Elected President Nikos Christodoulides is expected to continue the government’s fiscal discipline and rollout economic reform, said an analysis by rating agency Moody’s. The former foreign minister is described as independent and
In the fourth quarter of 2022, GDP growth in Cyprus was estimated to have increased by 1.1% compared with the previous quarter, while EU growth was static. This compares with a 0.1% increase
Dairy producers can make Halloumi spinoffs, such as burgers and fries, under the EU-approved Product of Origin file (PDO), following a decision by the Ministry of Agriculture. The ministry approved the latest
Cyprus’ economy will be the fifth best in the European Union with a 2023 GDP growth rate of 1.6%, according to the European Commission’s Winter interim Forecast. Only Ireland (4.9%), Malta (3.2%),
Building permits issued in Cyprus from January to November declined by an annual 5.4%, but the total value rose 1.2%, reflecting increasing construction costs amid soaring inflation and supply chain disruptions. According to
