Economy - Page 30

Trade gap widens on cost of raw materials

Rising prices of raw materials in Cyprus are largely to blame for a growing trade deficit, wider by almost €349 mln in 2021 from 2020, reaching €5.24 bln. Despite a greater rate

24th March 2022

Cyprus/Economy

Tourism off to a good start, war and sanctions aside

The island’s battered tourism industry is trying to recover from the coronavirus, as well as the impact from the war in Ukraine and sanctions on Russia, as it gets off to a

24th March 2022

Cyprus/Economy

Paphos among ‘best value’ for UK tourists

Paphos remains an attractive destination for British tourists despite the increase in the costs of goods and services around the world, as a UK survey rates the town as the fifth best

22nd March 2022

Cyprus/Economy/Life & Society

Consumers brace for ‘perfect storm’

Consumers have been told to brace for a ‘perfect storm’ on prices of essential goods, particularly food and fresh produce, as an increase in demand following the pandemic, rough weather conditions and

19th March 2022

Cyprus/Economy

February growth rate ‘positive’, but decelerating, prior to Ukraine

A leading indicator that serves as an early warning signal for changes in Cyprus economic activity, saw a year-on-year growth in February, prior to the full scale of the current crisis with

18th March 2022

Cyprus/Economy

Price hikes widen trade gap

Rising prices of raw materials in Cyprus are largely to blame for a growing trade deficit, wider by almost 20% in January, compared to the same month last year, according to stakeholders.

17th March 2022

Cyprus/Economy

Tourism, energy to be worst hit from Russia fallout

Cyprus expects to be hit the hardest in the sectors of tourism and energy supplies, a senior government official told the EU finance ministers’ meeting (Ecofin) in Brussels, echoing warnings from rating

16th March 2022

Cyprus/Economy

Finance Ministry ups 2022 inflation forecast to 4%

The Finance Ministry has revised its inflation forecast for Cyprus this year from an initial 1.5% to 4%, amid a hike in fuel prices in the aftermath of Russia’s invasion of Ukraine.

16th March 2022

Cyprus/Economy

DBRS: Russian links threaten Cyprus recovery

Cyprus’ significant links with Russia have increased the downside risks to otherwise strong medium term economic prospects for the island, rating agency DBRS said in a commentary, echoing concerns by local firms

15th March 2022

Cyprus/Economy

Cyprus economic shock from Russian bombs

In the aftermath of Russia’s invasion of Ukraine and sanctions could inflict wounds on the Cypriot economy, including trade, higher fuel prices and the key tourism sector where 22% are Russia and

27th February 2022

Cyprus/Economy