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,
Capital Intelligence Ratings affirmed late Friday the Republic of Cyprus long-term foreign currency rating (LT FCR) and short-term foreign currency rating (ST FCR) at ‘BB+’ and ‘B’, respectively, revising the outlook for
Cyprus welcomed as historic the first disbursement of €156.8 mln in pre-financing in funds and loans provided under the European Commission’s Recovery and Resilience Facility (RRF). President Nicos Anastasiades said receiving the
The banking sector faces multiple challenges ranging from the large percentage of non-performing loans (NPLs) to climate change; despite progress made, speakers told the Association of Cyprus Banks AGM. Finance Minister Constantinos
