At -0.8% Cyprus had the third-lowest annual inflation rate in the European Union in January behind Greece (-2.4%), Slovenia (-0.9%), data showed on Tuesday. Cyprus’ Harmonized Index of Consumer Prices declined 0.8%
Tackling poverty needs sound economic policy requiring support for entrepreneurship, capital for investments, education, good public service and an environmental strategy, said Cypriot Nobel Laureate, Sir Christopher Pissarides. Pissarides told an online
Cyprus is persuading Investment Funds to move their operations to the island with stakeholders pleased that despite the pandemic interest is gaining traction. This was the main conclusion from the Cyprus Investment
The government on Wednesday unveiled new cash incentives to encourage young couples to live in the countryside and revive local businesses in rural areas. Aiming to boost the economy and entrepreneurship to
Economists have welcomed the idea of creating a state-owned bad bank to help the banking system offload toxic loans to focus on supporting a battered economy post-pandemic. Bank of Cyprus Financial Research
With the highest Non-Performing Loans ratio in the eurozone, Cyprus will create a ‘bad bank’ to relieve its financial institutions of €10 bln in Non-Performing loans, hoping to mirror the success of
By Pavlos Loizou There is a typical cycle behind empires’ rises and declines. In the beginning, there is peace, prosperity, and productive debt growth. As the economy expands, a debt bubble is
The value of Cyprus building permits issued from January to November 2020 declined by 23% year on year to €2.5 bln, mainly affected by the impact of the pandemic on large-scale projects.
Cyprus’ economy will start to recover in 2021, however, at a much slower pace than the government predicts with everything riding on the speed of the COVID-19 vaccination rollout, analysts told the
Cyprus Central Bank governor Constantinos Herodotou on Friday warned MPs against tampering with the foreclosures law which could lead to further delays in banks tackling toxic mortgages. Herodotou urged MPs to focus
