The Cypriot economy is no stranger to economic downturns. Less than a decade ago, it faced an almost existential threat. Two of its biggest banks went down. Money became so scarce it
Construction improved in the first two months of 2021, with the number of building permits issued increasing 1.9% on the year before despite a lockdown in January. A second national lockdown that
Cyprus’ economic activity contracted sharply in 2020 due to the COVID-19 crisis, albeit less than the EU average, but a 3.1% GDP rebound is expected this year, according to the EU Commission
Cyprus’ National Recovery and Resilience Plan, the blueprint to absorb over €1 bln from the EU’s Next Generation fund, will be submitted to the Cabinet next week for approval. Finance Minister Constantinos
In April, the number of registered unemployed increased by around 3,000 from the previous month, with the biggest impact from the COVID-19 fallout felt in the retail sector, construction, technical services, and
Cyprus’ industrial and manufacturing sector, contributing 13% to 16% of GDP in recent years, was deeply impacted by the loss of work-hours due to three lockdowns since the pandemic started and a
Revenues for ship management companies in Cyprus were hardest hit in the second half of last year due to the impact from the pandemic slowdown, declining by 17% compared to 2019, the
Cyprus posted a fiscal deficit of €1.19 bln, which corresponds to 5.7% of GDP, as the government tried to borrow its ways out of the pandemic, the Statistical Service said on Thursday.
Deputies will be using Thursday’s final session before dissolving for fresh elections next month to pass a bill that defines and regulates state guarantees worth €1 bln for coronavirus-hit businesses. The bill
According to the University of Cyprus Economics Research Centre, the island’s GDP growth is projected at a slower 3.3% for 2021, accelerating to 3.6% next year. April’s growth forecast for 2021 was
