Economy - Page 50

Turkish Cypriots are €2,000 poorer than in 2011

Growth in the Turkish Cypriot economy over the next two years will not be high enough to raise per capita incomes unless policymakers implement ambitious reforms, according to the Annual Macroeconomic Monitoring

26th February 2020

Cyprus/Economy

Credit card spending spiked 6% in January to €413 mln

Cyprus credit card transactions in January increased by 6%, reflecting stable consumer confidence while online payments to the state did not play a significant role in the rise. According to the latest

12th February 2020

Cyprus/Economy

Cyprus solution could generate €17 bln ‘peace dividend’

Cyprus reunification would bring about enormous economic advantages for both sides of the island’s divide generating a peace windfall of more than €17 bln while creating 100,000 new jobs in a post-settlement

8th February 2020

Cyprus/Economy

Number of unemployed falls to new 10-year low

The number of registered Cyprus unemployed in January fell to a new 10-year low, according to seasonally adjusted data, mainly due to the decline in public administration jobless figures. Unemployed people, registered

6th February 2020

Cyprus/Economy

High private debt constrains cash-rich banks

With Cyprus banks holding record liquidity the system has come under fire from various stakeholders in the economy for keeping a tight lid on loans to new businesses and for mortgages. But some

2nd February 2020

Cyprus/Economy

Unemployment in Cyprus increased to 7.6% last year

Cyprus was one of six EU states where annual unemployment actually went up in 2019 while jobless among the youth is coming down. In Cyprus, the unemployment rate fell to 7.6% (34,000

30th January 2020

Cyprus/Economy

Cyprus economic growth to lose steam in 2020

Cyprus economic growth is expected to decelerate in 2020, with real GDP dropping from 4.1% in 2018 and 3.4% in 2019 to 2.8%, due to faltering confidence, risks related to bad loans

28th January 2020

Cyprus/Economy

Credit card transactions increased by 11% in 2019

Strong consumer spending and a surge during Christmas put a smile on the economy with credit card transactions last year increasing 11% compared to 2018, according to JCC payment systems. A reflection

21st January 2020

Cyprus/Economy/Life & Society

Cyprus car sales slump 7.1%

Car sales were down by 7.1% in 2019 compared to the previous year with dealers calling on the government to push the much-awaited scrappage incentive package to revive the stagnated market. After

20th January 2020

Cyprus/Economy/Life & Society

Bad loans reduce slightly to €9.7 bln

Non-performing facilities in Cyprus banks recorded a slight decrease of around €1.4 mln in August 2019 compared to the previous month with total NPFs representing 29.3% of total loans. According to data

15th January 2020

Cyprus/Economy