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
Cypriot GDP is projected to recover by 3.8% in 2021, following a contraction of 5.1% last year, according to the Cyprus Central Bank’s economic bulletin. In 2022 and 2023, GDP is expected
Nicosia should continue fiscal support measures to mitigate COVID-19 economic scarring and focus on digitisation and transition to a green economy as recovery takes hold, the International Monetary Fund said. Following a
Hourly labour costs decreased in Cyprus by 1.7% in the first quarter of 2021, while in the rest of the euro area, they increased 1.5% year-on-year; it was a higher 1.7% in
ECB supervisory board member Elizabeth McCaul advises caution over possible amendments to the Cyprus foreclosure law as they could “backfire and destabilise the banking sector”. In an interview with CNA, McCaul said
Cyprus’ recovery and resilience plan to make the economy socially and environmentally sustainable will increase GDP growth by 7% over the five-year implementation, said Finance Ministry official George Pantelis. At the online
DBRS Morningstar rating agency reports that Cypriot banks substantially accelerated the reduction of their legacy NPEs in 2020, dropping by 10 percentage points. It noted that NPEs not provisioned for reached their
People who don’t get COVID-19 vaccinated are not just expressing a political view or voicing health concerns over potential side effects; they are a “potential drag on the economy”. As the vaccination
By Demetris Georgiades It is in the nature of Fiscal Councils to be prudent and to advocate for fiscal discipline. But under the unprecedented pandemic, there was a consensus even amongst Fiscal
