Economy - Page 37

Cyprus economic growth to recover gradually in 2021-22

Cyprus’ economic activity contracted sharply in 2020 due to the COVID-19 crisis, albeit less than the EU average, but a 3.1% GDP rebound is expected this year, according to the EU Commission

12th May 2021

Business/Economy

Cyprus to approve €1 bln National Recovery & Resilience plan

Cyprus’ National Recovery and Resilience Plan, the blueprint to absorb over €1 bln from the EU’s Next Generation fund, will be submitted to the Cabinet next week for approval. Finance Minister Constantinos

8th May 2021

Cyprus/Economy

Jobless peaks at 34,300, worst since October

In April, the number of registered unemployed increased by around 3,000 from the previous month, with the biggest impact from the COVID-19 fallout felt in the retail sector, construction, technical services, and

6th May 2021

Cyprus/Economy

COVID19: Industrial output down 6% due to lockdown

Cyprus’ industrial and manufacturing sector, contributing 13% to 16% of GDP in recent years, was deeply impacted by the loss of work-hours due to three lockdowns since the pandemic started and a

5th May 2021

Economy

Cyprus ship management sheds 17% in 2020

Revenues for ship management companies in Cyprus were hardest hit in the second half of last year due to the impact from the pandemic slowdown, declining by 17% compared to 2019, the

29th April 2021

Cyprus/Economy/Maritime

Cyprus fiscal deficit 5.7% of GDP in 2020

Cyprus posted a fiscal deficit of €1.19 bln, which corresponds to 5.7% of GDP, as the government tried to borrow its ways out of the pandemic, the Statistical Service said on Thursday.

22nd April 2021

Economy

House to vote on state guarantees a year late

Deputies will be using Thursday’s final session before dissolving for fresh elections next month to pass a bill that defines and regulates state guarantees worth €1 bln for coronavirus-hit businesses. The bill

22nd April 2021

Business/Cyprus/Economy

Cyprus GDP growth projected at 3.3% for 2021

According to the University of Cyprus Economics Research Centre, the island’s GDP growth is projected at a slower 3.3% for 2021, accelerating to 3.6% next year. April’s growth forecast for 2021 was

21st April 2021

Economy

Green, digital reforms for Cyprus economy

By Constantinos Petrides In 1961, President John F. Kennedy announced the US would set foot on the moon within the next decade. At that time, the required technology was not available, and

21st April 2021

Comment/Economy

Cyprus businesses must name true owners in AML bid

Businesses based in Cyprus will be obliged to declare their true owners, as Cyprus takes steps to shed its spotty reputation as a money-laundering haven, to protect its fragile economy and to

7th April 2021

Business/Economy