DBRS Morningstar rating agency reports that Cypriot banks substantially accelerated the reduction of their legacy NPEs in 2020, dropping by 10 percentage points. It noted that NPEs not provisioned for reached their
People who don’t get COVID-19 vaccinated are not just expressing a political view or voicing health concerns over potential side effects; they are a “potential drag on the economy”. As the vaccination
By Demetris Georgiades It is in the nature of Fiscal Councils to be prudent and to advocate for fiscal discipline. But under the unprecedented pandemic, there was a consensus even amongst Fiscal
The Cypriot economy will recover in 2021, albeit at a more moderate pace than the previous projections due to lockdown measures in January and April, the Cyprus Central Bank forecasts. The projections
Cyprus’ economy is forecast to grow by 3.1% GDP in 2021, but the European Commission warned the country’s fiscal outlook is surrounded by substantial risks in its post-bailout surveillance report. “The fiscal outlook
The history of finance is full of examples of how asset prices rapidly burn investors when they rise and fall sharply. Economists named this phenomenon the financial bubble. Bitcoin, the most popular
Successful implementation of Cyprus’s recovery plan could revitalise efforts to enhance the efficiency of the judicial system, public administration, and the economy’s green and digital transition, DBRS Morningstar said. It comes after
President Nicos Anastasiades on Monday unveiled the government’s €4.4 bln roadmap to economic recovery in the post-coronavirus era. At the Presidential Palace, President Anastasiades presented a vision of Cyprus the day after
The Cypriot economy is no stranger to economic downturns. Less than a decade ago, it faced an almost existential threat. Two of its biggest banks went down. Money became so scarce it
Construction improved in the first two months of 2021, with the number of building permits issued increasing 1.9% on the year before despite a lockdown in January. A second national lockdown that
