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
International credit rating agency DBRS Morning Star projects the Cypriot economy’s growth rate will be at 4.3% GDP this year and recede slightly to 4.1% in 2022. The projections are included in
Implementing the EU-backed €1.2 bln Recovery and Resilience plan successfully is important for public finances while boosting the island’s growth prospects, said Finance Minister Constantinos Petrides. Speaking before the House Finance Committee
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
