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

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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

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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,

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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”

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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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