Household debt dips to 77% of GDP

Household debt reached €20 bln, equivalent to 77% of Gross Domestic Product in Q3 2022, marking a slight decrease compared to the previous quarter due to the increase in GDP, according to

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Cyprus paralysed by general strike

Cyprus’ economy came to a standstill on Thursday during a three-hour general strike affecting the wider public sector in a dispute over the reinstatement of the inflation-linked Cost of Living Allowance as

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Central Bank warns over private debt

Cyprus Central Bank governor Constantinos Herodotou called for awareness over rising private debt as the economic outlook deteriorates due to the prolonged Russian invasion of Ukraine. Herodotou called for increased vigilance to

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Price inflation rose 8.1% in 2022

The Harmonised Index of Consumer Prices (HICP) rose 8.1% last year compared to 2021, driven by higher energy bills and pump prices. In December alone, the HICP increased by 7.6% compared to

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Skills shortage driving unemployment

Unemployment is rising, with stakeholders in the labour market saying there is a mismatch between vacancies and jobseeker skills, as employers cannot find qualified staff. A recent CyStat survey showed the number

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