Dining out becomes challenging

As the cost of living surge takes its toll, keeping up a vibrant social life has become an arduous endeavour, as dining out and ordering food are becoming increasingly elusive luxuries for

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Inflation decelerates in October

Cyprus’ inflation rate showed signs of decelerating in October following two months of price increases, dropping 0.7% to 3.5%. According to data from the Cyprus Statistical Service, the October Consumer Price Index

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Tighter lending meets lower loan demand

During the second quarter of 2023, the lending criteria for businesses and households remained strict, indicating the caution of banks. At the same time, there was a decrease in loan demand, attributed

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Budget safeguards fiscal stability

The 2024 state budget aims to safeguard fiscal stability while promoting green transition and digital transformation, ushering in a more modern economy, Finance Minister Makis Keravnos said. Keravnos presented the next year’s

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IMF revises Cyprus GDP down to 2.2%

International Monetary Fund (IMF) World Economic Outlook forecasts that Cyprus’ growth rate for 2023 will slow to 2.2% GDP, down from the 2.5% it had projected in April. For 2024, the IMF

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