Rise and fall of empires

By Pavlos Loizou  There is a typical cycle behind empires’ rises and declines. In the beginning, there is peace, prosperity, and productive debt growth. As the economy expands, a debt bubble is


Strong economic recovery not a given

Cyprus’ economy will start to recover in 2021, however, at a much slower pace than the government predicts with everything riding on the speed of the COVID-19 vaccination rollout, analysts told the


Cyprus economy to rebound 4.5% GDP in 2021

Finance Minister Constantinos Petrides expects to see the Cyprus economy bounce back from the pandemic with 4.5% GDP growth in 2021 following a 5.5% contraction during last year’s health crisis. Addressing Invest


State budget passes after bumpy ride

Following its unprecedented rejection, Cyprus’ revised 2021 budget was narrowly approved by parliament with the government relieved to see millions for coronavirus support unlocked. The €17.1 bln budget was passed on Thursday


Cost of bricks up 23%, asphalt down 20%

The cost of bricks jumped by a quarter last year, together with other construction materials, driven by the Covid-driven slowdown in global supplies, as well as the drop in crude prices that

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