Troika returns with long to-do list

International creditors will arrive in Cyprus on Monday in a routine post-memorandum check, ensuring the government’s fiscal strategy is not derailed by COVID and the effects of the war in Ukraine. The


Economy withstands Ukraine war, energy crisis

Consequences of geopolitical events to the economy and banking sector have been contained, but the second-round effects are unknown, said Cyprus Central Bank governor Constantinos Herodotou. He argued that uncertainty in an


Unemployed drops to 14,960

Cyprus unemployed decreased by 1,320 people in August, dropping by 8.1% compared to 12 months ago, data released Monday showed. But registered unemployment figures for July alone indicate a slight increase, compared to July

Economy performing better than pre-COVID

Cyprus’ economy is on the rebound following two and a half years of coronavirus restrictions, as indicators perform better than in pre-pandemic 2019. According to data released by the Cyprus Statistical Services,


National minimum wage set at €940

The government is introducing a national minimum wage from January, set at €940 after six months in the job, announced Labour Minister Kyriacos Koushos. The decision is heralded as a “historic move”


Economic sentiment at 17-month low

Economic sentiment deteriorated in August to a 17-month low, as the University of Cyprus index decreased by 4.5 points from July amid a cost of living crunch. The decrease in the ESI-CypERC

Cyprus hails Moody’s economy upgrade

The Finance Ministry welcomed Moody’s acknowledgement the Cyprus economy was resilient and had the potential to overcome the challenges. The ministry issued a statement following Moody’s decision to change the outlook on

Cyprus unemployment rises to 5.1%

The seasonally-adjusted unemployment rate in Cyprus was lower than the European average at 5.1% in June, compared to 6.6% in the euro area and 6.0% in the EU, according to Eurostat. But

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