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
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
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
Cyprus hoteliers are urging tour operators to activate plans and packages drawn up to face the negative impacts from the geopolitical turmoil in the region, the rise of neighbouring markets and Brexit.
By Dr Fanos Tekelas The tourism sector has seen a substantial increase during the last 3 years as a result of the adequate strategic actions taken by policymakers and the Deputy-Ministry of
As we approach the end of 2019 it is always a good idea to look back at the year, evaluate the performance of our economy, but at the same time consider what
Cyprus Finance Minister Constantinos Petrides welcomed parliament passing the €9.4 bln 2020 state budget for the government to continue on the path of economic stability, growth and shielding the economy from external
Low productivity and high private debt, as external risks increase, are the main challenges for the Cyprus economy to tackle, said an International Monetary Fund (IMF) review. The IMF Executive Board welcomed
After a heated discussion among MPs, parliament gave the green light for the €8.5 mln reimbursement to the producers of a Hollywood movie filmed entirely in Cyprus, but the film scheme remains
The Finance Ministry welcomed data showing Cyprus’ economy grew at 3.4% GDP in Q3 2019 for the fifth consecutive year saying it was proof of solid foundations. In a statement, the Ministry
