Highlighting the sector’s pivotal role in the economy, official forecasts predict an increase in tourism’s contribution to the GDP this year to 12.8%, up from 12.2% in 2022. Tourist arrivals for January
Cyprus must face up to sins of the past and serve out punishment for financial fixers and high-ranking politicians implicated in money laundering and sanction busting if it wants to thrive as
A settlement of the Cyprus problem would boost economic activity and remove instability, which blocks investments, officials from the European Commission and the World Bank told the Economist Summit. “As every economist
Cyprus’ banking sector is in the best position it has been over the last decade, experts said at the 19th Annual Economist Summit. The experts highlighted, however, the importance of implementing the
Cyprus’ inflation rate showed signs of decelerating in October following two months of price increases, dropping 0.7% to 3.5%. According to data from the Cyprus Statistical Service, the October Consumer Price Index
The 2024 state budget aims to safeguard fiscal stability while promoting green transition and digital transformation, ushering in a more modern economy, Finance Minister Makis Keravnos said. Keravnos presented the next year’s
Total assets invested in Cyprus have surged to a record-breaking €2.9 billion, marking a significant milestone and amplifying the sector’s role in fortifying the country’s economic expansion and diversification. The Cyprus Investment
The cost of leaving inflation untamed is much higher for households and businesses, said Central Bank Cyprus governor Constantinos Herodotou. Addressing the 14th Limassol Economic Forum in Limassol, Herodotou referred to the
The European Central Bank is determined to promptly ensure that inflation returns to its 2% medium-term target, said ECB Vice-President Luis de Guindos. In his keynote speech at a Central Bank of
Real monthly gross earnings of employees in Cyprus registered an annual drop in 2022, the first decline in seven years, showing the effect of high inflation on real incomes. According to annual
