In October 2022, economic sentiment in Cyprus improved as confidence was driven by the services sector and retail trade gains. The Economic Research Centre of the University of Cyprus’ Economic Sentiment Indicator
Finance Minister Constantinos Petrides said the 2023 state budget is not a pre-election ploy but a responsible one to navigate the country through turbulent times. Presenting the budget at the House Finance
Capital Intelligence Ratings has upgraded Cyprus’ Long-Term and Short-Term Foreign Currency Rating to ‘BBB-’ and ‘A3’ from ‘BB+’ and ‘B’ but revised the outlook to Stable from Positive. A statement said the
A prudent fiscal stance is necessary to maintain buffers to enable government support to the vulnerable during the current energy crisis, warned Finance Minister Constantinos Petrides. “In this new era, we should
A prolonged increase in prices is ranked by experts as the most likely negative impact on the Cypriot economy, according to a survey by the Competitiveness Council. The “significant and prolonged increase
Cyprus malls have escaped unscathed from the effects of hiking inflation rates, with their turnover setting new records. Stakeholders report that an influx of tourists compared to two years of coronavirus has
Consumer Price inflation is forecast at 8.6% for 2022, slipping to 3.4% in 2023, while GDP growth this year is projected at 4.9%, followed by a lower 2.4%, the University of Cyprus
International creditors have urged authorities to build on the strong prospects of the General Healthcare System by stepping up investments in the health sector and getting in foreign investors. The Troika was
The Cabinet approved the 2023 state budget on Friday, with Finance Minister Constantinos Petrides heralding it “the greenest, with the most social benefits” ever submitted by a government. The budget approved by
Business leaders warn the island’s tourism will suffer collateral damage from a quarrel between the government and Cyprus airports operator Hermes over expansion work. The row intensified with the Auditor General’s intervention,
