Impact of the Covid-19 pandemic to the Cyprus economy was deeper than expected in the second quarter contracting 12.3% GDP from an initial estimate of 11.9%, new data showed Friday. The second
We have been hearing about sustainability and job creation ever since the incumbent ‘pro-business’ administration came into office the first time around, over seven years ago. We were supposed to transform into
Cyprus Finance Minister Constantinos Petrides predicts the economy will perform better than expected post-COVID shrinking by less than 5.5% GDP instead of the previously forecast of -7%. “We have succeeded in our
Cyprus’ economy will fare better than expected from the pandemic fallout as it is expected to contract less than 7% of GDP this year, said Finance Minister Constantinos Petrides. In the early
Cyprus has started licking its wounds in the aftermath of the coronavirus pandemic as damage to its economy are becoming evident as GDP shrank 11.9% in the second quarter. Data released by
Cyprus’ Finance Ministry, after re-evaluating the impact of the coronavirus pandemic, is sticking to its basic scenario of the economy shrinking by 7% GDP this year. In comments to the Cyprus News
Two reports by the University of Cyprus show the Cypriot economy in decline and the uncertain growth trend for 2020 with the main retardant being the coronavirus-imposed lockdown in March and its
Cyprus’ economy is under significant strain from the heavy impact of COVID-19 fallout on tourism with expected revenues only 25% of last year’s level, the European Commission’s economic forecast said. Revenue from tourism
Cyprus will see its economy shrink by 7% of GDP as a direct result of the COVID-19 pandemic and the lockdown imposed to contain it, said the Finance Ministry on Thursday. In
Cyprus on Wednesday announced a raft of new measures in a €150 mln support package for the economy to deal with effects of the pandemic with total rescue funds touching €3 bln.