Stronger rebound for Cyprus in 2021

Cyprus will boast a stronger than expected recovery of 5.5% GDP growth this year following the coronavirus pandemic, according to European Commission forecasts. The Finance Ministry noted the strong recovery recorded in

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October registered unemployed dips 65%

The number of registered unemployed saw a big annual drop of 65% in October from 31,487 in 2020, attributed mainly to a thriving hotel, tourism and hospitality sectors, the Statistical Service reported

Hike in building costs threatens recovery

Real estate and construction stakeholders want the government to soften the blow delivered by an “abnormal” increase in construction costs, warning that development could screech to a halt. A leading developers’ lobby

UCy revises real GDP growth upward

Real GDP growth is projected at 5.4% in 2021 and 4.1% in 2022, upward revisions mainly driven by the strengthening recovery during the second quarter of this year, according to the University

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Green, digital transition to revamp economy

Finance Minister Constantinos Petrides said the Cyprus economy would become more robust by going through the green and digital transition. In his speech at the Digital Agenda Summit held Wednesday in Nicosia,

Wrong-way to keep costs down

There is a love-hate relationship between the government and the business community. On the one hand, the government needs business to pay taxes and contribute to national growth to maintain its payroll;

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Financial risks from unregulated cryptos

Digital currencies could trigger a financial meltdown unless governments take swift action to regulate this market, the Guardian quoted a senior Bank of England policymaker as saying. Likening the growth of cryptocurrencies

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IMF upbeat on Cyprus economy

Despite a supply chain crisis, the International Monetary Fund revised 1.8 percentage points upwards the growth rate of the Cypriot economy this year to 4.8% GDP, compared to its forecast in April.

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