The annual seasonally adjusted GDP growth rate is estimated at 12.9% for the second quarter of 2021, a huge improvement on the 2.1% shrinkage in the previous three months. It is the first
Fitch rating agency reaffirmed Cypriot banks’ negative outlook noting the general environment poses threats to their balance sheets. In a report on the Cyprus banks, the agency notes that while they are
Cyprus ranked fourth among EU member states when it comes to military expenditure in 2019, after Estonia, Greece and Latvia. According to figures published on Friday by Eurostat, €168.5 bln was spent
The number of registered unemployed in the second quarter of 2021 was 39,224 taking the jobless rate to 8.4% (men 7.5%, women 9.5%) from 30,451 (6.8%) in the same quarter last year.
The Cyprus economy is on a path of recovery and growth, with private initiative, employees and local companies as its pillars, Finance Minister Constantinos Petrides said after Q2, GDP spiked 12.8%. He
British expats living across Europe are being “routinely abandoned” by financial firms due to Brexit red-tape and complications, according to U.K. media reports. A leading advisory firm recommends that expats seek financial
In a bid to encourage teenagers and 18 to 30 year olds to get on board the Covid-19 vaccination train, the government has joined forces with private companies offering incentives, ranging from
The Cypriot economy is projected to record strong GDP growth over the next two years after a pandemic-induced 2020 contraction. A gradual return to normalcy and an increase in vaccination coverage are
The ECB’s Strategy Review will allow for the continuation of support of the Eurozone economies, said Central Bank of Cyprus (CBC) governor Constantinos Herodotou. “The ECB’s Strategy Review, with its clearer symmetric
The lifting of restrictive measures, including a two-week harsh lockdown from April to May, has boosted the economy, as credit card purchases improved 16% in the second quarter. According to the latest
