Cyprus will extend lower VAT on electricity bills and a fuel price cap while boosting pensions to cushion the impact of runaway prices that have pushed inflation to its highest rate in
Economic sentiment in Cyprus improved slightly in May, with the monthly Economic Sentiment Indicator (ESI-CypERC) up by 1.1 points from April due to stronger business confidence in services. However, at 106.1 points,
The European Commission has underlined the need for Cyprus to reduce its reliance on fossil fuels and accelerate the development of renewables. Its European Semester for 2022 called on Nicosia to develop
GDP growth in Cyprus this year will decelerate to 2.3% from the previous estimate of 3.6%, while inflation will more than double due to negative geopolitical developments associated with the war in
There were no decisions Friday on measures to buffer hiking inflation, diminishing Cypriots’ purchasing power, as the government postponed action until next week. Following the meeting on Friday, government spokesperson Marios Pelekanos
President Nicos Anastasiades stating the cost-of-living adjustment (CoLA) covers lost income from high inflation has triggered a reaction from unions calling on the government to fully reinstate the mechanism. Trade unions demanded
Stoked by rising energy costs, the Harmonized Index of Consumer Prices increased by 8.6% in April, from last year, according to data published by the Statistical Service. When compared to the index
Cyprus’ GDP growth will slow considerably as the war in Ukraine pushes inflation to unprecedented heights, according to the European Commission. In its Spring forecasts on Monday, the European Commission revised its
The ratings of Cyprus’ two largest banks remain on Positive Outlook despite increased risks to the global economy due to the war in Ukraine, Fitch Ratings says. Fitch expects Hellenic Bank (B/Positive)
The introduction of a national minimum wage will make lives better for 9% of the island’s workforce, as it will function as a shield for employees against exploitation, said Labour Minister Zeta
