The decisions made by the European Central Bank (ECB) in the early stages of the Covid-19 pandemic are considered a milestone for the European financial market. The decisions were diffused by unprecedented
In Cyprus, private debt (households and non-financial corporations) declined to €56 bln in Q2 2021, marking a reduction of €500 mln from the previous quarter, according to financial data from the central
Real GDP growth is projected at 5.4% in 2021 and 4.1% in 2022, upward revisions mainly driven by the strengthening recovery during the second quarter of this year, according to the University
Economic sentiment rose by 2.5 points in October, despite fragile consumer confidence as prices continue to rise, a monthly survey by the University of Cyprus has shown. The Economic Sentiment Indicator (ESI-CypERC)
Cyprus Central Bank Governor Constantinos Herodotou urged all stakeholders to accelerate efforts to deal with the impact of climate change as an ECB stress test for banks looms next year. Addressing the
There is a love-hate relationship between the government and the business community. On the one hand, the government needs business to pay taxes and contribute to national growth to maintain its payroll;
Despite a supply chain crisis, the International Monetary Fund revised 1.8 percentage points upwards the growth rate of the Cypriot economy this year to 4.8% GDP, compared to its forecast in April.
Parliament unanimously approved the 4th supplementary budget submitted by the government for financing measures to battle the pandemic. The law provides for additional grants of €91.7 mln for expenditure to mitigate the
The unemployment rate in Cyprus dropped to 4.4% of the labour force in August, from 5.2% in July, with the Finance Ministry confident that the trend will continue. This correspond to 20,000
Economic sentiment dropped by 1.5 points in September, despite a steady recovery since April, due to weakened business confidence in services and, to a smaller extent, from a fall in construction confidence,
