Total registrations of motor vehicles reached 2,484 in August 2022, recording an increase of 8.1% from 2,298 a year ago, according to the Statistical Service. Passenger saloon car sales rose by a
Despite building materials falling in price, the ongoing energy crisis has Cyprus developers unwilling to greenlight new projects until they have a clearer picture of where building costs are heading. Cyprus construction
Cyprus’ banking network has shrunk by a quarter in the past three years, as many branches have closed and the workforce reduced as banks go digital. According to the Association of Cyprus
Cyprus’ economy is on the rebound following two and a half years of coronavirus restrictions, as indicators perform better than in pre-pandemic 2019. According to data released by the Cyprus Statistical Services,
The government is introducing a national minimum wage from January, set at €940 after six months in the job, announced Labour Minister Kyriacos Koushos. The decision is heralded as a “historic move”
A drop in fuel prices has yet to be reflected in prices of essential goods, while according to experts’ there will be no price correction this year. In comments to news site
Cyprus’ economy is expected to grow by more than 5% GDP in 2022; the Finance Ministry said preliminary estimates showed a 6.1% year-on-year growth in Q2 despite the fallout from the Ukraine
Inflation in Cyprus has broken every record in the book, as it increased by 10.9% year on year in July, driven by hikes in electricity and fuel, said the Statistical Services. The
The seasonally-adjusted unemployment rate in Cyprus was lower than the European average at 5.1% in June, compared to 6.6% in the euro area and 6.0% in the EU, according to Eurostat. But
Despite the loss of the big-spending Russians due to the war in Ukraine, Cyprus’ increased tourist flows have pushed up revenues in the first five months, close to income recorded in the
