Preliminary estimates for national accounts in 2008 show that there was a slowdown across almost all private sectors in 2008 but that the government helped to prop up growth by accelerating spending.
The industrial output prices index rose by 3.5% over the year earlier in January 2009, reaching 118.6 (base 2005=100). Compared with the previous month, output prices fell by 3.3%. For index for
The Civil Registry and Migration Department of the Ministry of Interior of Cyprus announced that as from January 1, 2009, the housemaids’ minimum gross salary will be adjusted on the contracts every
The European Commission assessed the updated Stability Programme of Cyprus and found that the fiscal policy in 2009 will be rather expansionary. According to a press release issued by the Commission on
EU Economic and Monetary Affairs Commissioner Joaquin Almunia announced on Tuesday during a press conference the European Commission's recommendation to Cyprus to reverse the projected fiscal loosening in 2010 and beyond. Almunia
Organizers of the 2010 Winter Olympics have felt the pinch of the global credit crunch, but said on Wednesday that will not pose a problem because they are currently flush with cash.
British Prime Minister Gordon Brown said on Tuesday he was confident world leaders at a global financial crisis summit next week would do "whatever it takes" to create growth and jobs. He
Bank of England Governor Mervyn King warned Britain's government on Tuesday that its burgeoning budget deficit meant it would have to be cautious about any new fiscal stimulus package to boost the
The world econonic downturn has triggered a spike in admissions to subsidised government hospitals in Cyprus, with the public shunning costlier private health care. Doctors in state hospitals say there has been
British consumer price inflation rose unexpectedly to 3.2 percent in February, official data showed on Tuesday, forcing Bank of England Governor Mervyn King to write a letter explaining why it remains so
