A hike in prices of essential products has been constrained by a government decision to waive VAT on items, including milk, nappies, and bread; however, reports of abuse have been filed by
The economy of Cyprus is expected to slow to 2.5% GDP in 2023, reflecting an erosion in household incomes, tighter financial conditions, and delayed impacts from sanctions against Russia, the International Monetary Fund
Annual Gross Domestic Product generated €6.2 bln in the first quarter of the year, showing an increase of 3.4%, bolstered by the retail sector and tourism revenue. Based on seasonal and working
Annual inflation in Cyprus dropped to 3.01% in May, continuing its downward trajectory for a seventh consecutive month, mainly driven by the reduction of fuel prices. Price inflation in May marked the
Robust growth in tourist arrivals and revenues this year will offset losses the economy may suffer from sanctions on Cyprus’ services sector, according to initial Finance Ministry estimates. As reported by the
The government will add more commodities to a list of essential products carrying zero VAT to ease the cost-of-living crisis. Two weeks after introducing the first list of items with zero VAT,
Adjusting wages to meet inflation with automatic mechanisms such as the Cost-of-Living Allowance will not solve the real problem of income inequality with low-earners not seeing their earnings improve for a decade,
The Cypriot economy maintained strong momentum in the first quarter of 2023, with real GDP registering an annual growth rate of 3.4%, the second highest in the EU. There are signs of
Social partners have settled a dispute over the Cost of Living Allowance (CoLA), by accepting the mediation proposal tabled by Labour Minister Yiannis Panayiotou. The island’s four main trade unions – SEK,
Social partners are reportedly ready to settle a dispute over the Cost of Living Allowance (CoLA), by accepting the mediation proposal tabled by Labour Minister Yiannis Panayiotou. According to news reports, Panayiotou’s
