Cyprus’ economy is on the rebound following two and a half years of coronavirus restrictions, as indicators perform better than in pre-pandemic 2019. According to data released by the Cyprus Statistical Services,
The government is introducing a national minimum wage from January, set at €940 after six months in the job, announced Labour Minister Kyriacos Koushos. The decision is heralded as a “historic move”
A drop in fuel prices has yet to be reflected in prices of essential goods, while according to experts’ there will be no price correction this year. In comments to news site
Cyprus’ economy is expected to grow by more than 5% GDP in 2022; the Finance Ministry said preliminary estimates showed a 6.1% year-on-year growth in Q2 despite the fallout from the Ukraine
Inflation in Cyprus has broken every record in the book, as it increased by 10.9% year on year in July, driven by hikes in electricity and fuel, said the Statistical Services. The
The seasonally-adjusted unemployment rate in Cyprus was lower than the European average at 5.1% in June, compared to 6.6% in the euro area and 6.0% in the EU, according to Eurostat. But
Despite the loss of the big-spending Russians due to the war in Ukraine, Cyprus’ increased tourist flows have pushed up revenues in the first five months, close to income recorded in the
The Central Bank of Cyprus (CBC) has downgraded its forecast for 2022 GDP economic growth by 0.9 percentage points due to the negative effects of the Ukraine war and the sanctions against
Labour Minister Kyriacos Koushos failed to get social partners to agree on a national minimum wage scheme on Friday, despite keeping employers and union bosses locked up in his office throughout the
The European Central Bank (ECB) increased interest rates by more than expected on Thursday, raising its benchmark deposit rate by 50 basis points to zero percent, impacting the Cyprus banking system and
