The University of Cyprus downgraded its projection for economic GDP growth this year to 2.6% due to the Russian invasion of Ukraine, warning of potential deterioration in asset quality in the banking
The government will support low-income groups hit by the highest inflation rate for decades, said Finance Minister Constantinos Petrides. Cyprus’ inflation in April spiked 8.6% in the Harmonized Consumer Price Index compared
European economies like Cyprus are facing the “twin problem” of rising commodity and energy prices and heightened uncertainty following the invasion of Russia in Ukraine, experts argued. “The war really threatens the
Economic growth in Cyprus will slow to 2.1% in 2022, with inflation spiking at 5.3% due to the impact of the Russian invasion of Ukraine and western sanctions against Russia, the IMF
Economists and authorities in Cyprus are increasingly concerned an inflation surge hitting the island will become a tidal wave, lasting for some years as a “de-globalisation” process is set into motion. Government
President Nicos Anastasiades’ administration remains committed to introducing a national minimum wage before the end of its term, reaffirmed Labour Minister Zeta Emilianidou. Following a meeting of the Labour Advisory Body set
Finance Minister Constantinos Petrides fears the current energy crunch fuelled by the war in Ukraine will be difficult to tame, comparing it to the oil crisis in the 1970s. Addressing the 12th
Real estate stakeholders are cautious over the immediate prospects of the construction sector and warn against being duped by a rosy picture drawn by an upward trend in building permits. According to
Economic sentiment in March dropped to a level below that of May last year, due to rising uncertainty among consumers and companies over the war in Ukraine, according to a University of
The President of the European Central Bank (ECB) Christine Lagarde, during her visit to the island on Wednesday, appeared confident that Cyprus would recover from the setbacks of the coronavirus pandemic and
