Despite its small size, Cyprus’s ambition of becoming a fintech hub has been boosted by the decision of Binance, the world’s largest cryptocurrency trading platform, to establish a presence on the island.
Cyprus’ economy is recovering from the COVID-19 pandemic, as data shows that GDP in the first nine months has grown faster than expected. According to data released by CyStat, the economy grew
Revenue from Cyprus tourism increased by nearly 30% or €80 mln in September on an annual basis, while in the first nine months, the rise in income reached an impressive 88% of
The Cyprus Fiscal Council expects increased pressures on the macroeconomy in 2023, with forecasts slightly more unfavourable than those of the Finance Ministry. It said the restraint on expenditure and management of the
Economists are confident the island’s economy and banking system will not be impacted by a rise in interest rates in the Eurozone, despite warnings by the European Central Bank. In its latest
Credit Rating Agencies have given a vote of confidence in the prospects and future developments in the Cyprus economy, Finance Minister Constantinos Petrides said. Petrides told the 1st Annual Financial Markets Forum
Finance Minister Constantinos Petrides has lashed out at the House’s decision to extend a freeze on foreclosures until the end of January, warning of dire economic consequences. In his latest attempt to
Cyprus construction stakeholders fear the industry may be growing too fast, endangering a healthy recovery from the coronavirus pandemic and a steep increase in the cost of building materials. Developers believe the
Uncertainty continues to prevail over the economy, as economists warn that things are not expected to improve as the highly volatile geopolitical environment continues to cast its shadow. A report compiled by
The government will intervene to keep a lid on the price of essential goods amid rising inflation, which is driving the cost-of-living crisis. The cabinet has greenlighted a bill that will oblige
