New household debt crisis looms

Economists fear that hiking inflation now being fed by the war in Ukraine could trigger another debt crisis on the island as households struggle to pay off their loans. According to CyStat

Stick to the 28/36 rule

Rising prices have been a major topic of discussion over the past few weeks. In essence, however, individuals can do little to mitigate the effects of rising fuel and commodity prices on

Private debt reduced to €56 bln in Q2

In Cyprus, private debt (households and non-financial corporations) declined to €56 bln in Q2 2021, marking a reduction of €500 mln from the previous quarter, according to financial data from the central


Cyprus public debt rises to 124% GDP

Cyprus’ public debt widened to €26 bln, or 124% of GDP at the end of February, pushed by increased government borrowing to support the real economy during the coronavirus pandemic. Rising public

Bad Bank would reduce debt mountain

Economists have welcomed the idea of creating a state-owned bad bank to help the banking system offload toxic loans to focus on supporting a battered economy post-pandemic. Bank of Cyprus Financial Research