Cyprus’ economy is heading for a recession this year as a result of the crisis brought on by the outbreak of COVID-19, said Finance Minister Constantinos Petrides on Tuesday. Speaking to CyBC
Real GDP may only contract by between 3.5 per cent and 9.2 per cent in 2020 as the impact of Covid-19 to tourism and the retail sector is offset by rising food
The Cyprus government has made available €2 bln to ensure workers keep their jobs and help businesses to avoid bankruptcy amid the coronavirus pandemic. Two schemes have been approved by the Cabinet
Cyprus is preparing a €700 mln government support package for the country’s economy which is in dire straits after COVID-19 hit the island last week. Speaking on Monday, Finance Minister Constantinos Petrides
An emergency cabinet session on Sunday decided to lock down the country and seriously curtail economic activity in unprecedented measures to prevent a Cyprus epidemic of coronavirus. Bars, cafes, restaurants, cinemas and
Throughout the week, as the panic picked up momentum over the worldwide spread of COVID-19 and its potential impact on Cyprus, health warnings prompted public services to limit their physical interaction. Venues
By Nikolas Ioannou The Coronavirus, also known as COVID-19, originated in China at the end of 2019 and it has been identified as the cause of an outbreak of a respiratory illness,
A financial support package for businesses to cope with the impact from coronavirus disease is being prepared by the government, Finance Minister Constantinos Petrides said. He also stressed that an extraordinary budget
As the novel Coronavirus spreads around the world, economies are shaken with stakeholders in the Cypriot economy fearing that if the virus poses a threat for a prolonged period Cyprus will pay a hefty price.
The construction and tourism sectors were the driving forces behind Cyprus’ economic growth in 2019, while the banking sector continued shrinking, according to official data. According to data released by the Cyprus