In February, the monthly seasonally adjusted volume of retail trade increased by 1.6% in Cyprus and 8.3% annually, the highest increase among EU states, according to Eurostat. During the same month, the
Despite inflationary pressures receding, March saw the lowest inflation rate for 13 months, but households continue to feel the cost-of-living pinch as they spend more on food. According to the Cyprus Statistical
Cyprus banks are willing to take up Finance Minister Makis Keravnos’ call to lower their lending rates to prevent a new toxic loan crisis, as long as the government chips in, according
Cyprus joined the sustainable bond markets issuing its inaugural ten-year eco bond for €1 bln with a coupon of 4.125% and a reoffer yield of 4.219%, the Finance Ministry’s Public Debt Management
Despite pressure from local and European Union monetary authorities, Cypriot banks appear reluctant to substantially increase deposit rates, among the lowest in the bloc. Reportedly, the island’s banks are ready to increase
The International Monetary Fund (IMF) warned the government against increasing the Cost-of-Living Allowance while pointing to threats posed by a possible rise in Non-Performing Loans due to hiking interest rates. The IMF
The Finance Ministry has stressed the importance of having stable legislation regulating out-of-court auctions in tandem with an effective insolvency framework to achieve a reduction of bad loans. “It is extremely important under
Finance Minister Makis Keravnos has told Cyprus banks to lower their interest rates on loans in a bid to get ahead of a possible new toxic loan crisis for the banking sector,
Consumers in Cyprus are not taking well to increased prices at hospitality venues, pushed up by hiking costs of raw materials and energy, as owners report a steep drop in their business.
The Central Bank of Cyprus (CBC) has marginally pushed up its projections for GDP growth this year citing the slightly improved prospects in the external economic environment and the anticipated lower energy
