By Constantinos Petrides In 1961, President John F. Kennedy announced the US would set foot on the moon within the next decade. At that time, the required technology was not available, and
By Michael Olympios Almost a decade ago, the apocalypse in the banking sector sent the Cypriot economy’s downgrading by rating agencies to junk, leaving many businesses overleveraged and undercapitalised. Banks’ enormous liquidity
By Maria Panayiotou At the peak of the financial crisis in Cyprus, the decision to promote the investment funds sector has proven to be particularly successful within a short time frame. Within
The coronavirus crisis has elevated government importance to support local economies while highlighting the need for businesses to become more tech-savvy, economists told the Financial Mirror. Government is on the frontlines of
Finance Minister Constantinos Petrides pledges the government will continue to support coronavirus-stricken economic activity to reduce high unemployment and fix stressed public finances. “The government supports the Cypriot economy and society as
Despite scientists expecting COVID-19 cases to increase due to relaxing lockdown, it is an irreversible process as the economy gets back in the driving seat. Scientists are preparing their recommendations for the
There is a heavy cloud of uncertainty permeating the air even though the authorities are confident that Lockdown II can be eased out of the way in the coming weeks. The pandemic
Despite the COVID-19 doomsday scenarios, the Cyprus economy shrunk -5.1% GDP, less than any estimate made by the government or European Union monetary bodies, Finance Minister Constantinos Petrides said Tuesday. Eurostat data
Economists have welcomed the idea of creating a state-owned bad bank to help the banking system offload toxic loans to focus on supporting a battered economy post-pandemic. Bank of Cyprus Financial Research
By Pavlos Loizou There is a typical cycle behind empires’ rises and declines. In the beginning, there is peace, prosperity, and productive debt growth. As the economy expands, a debt bubble is
