economy Archives - Page 18 of 26

COVID19: Economy bleeds €800 mln during pandemic

Cyprus has started licking its wounds in the aftermath of the coronavirus pandemic as damage to its economy are becoming evident as GDP shrank 11.9% in the second quarter. Data released by

1st September 2020

Cyprus/Economy

Cyprus says economy will shrink by 7% GDP in 2020

Cyprus’ Finance Ministry, after re-evaluating the impact of the coronavirus pandemic, is sticking to its basic scenario of the economy shrinking by 7% GDP this year. In comments to the Cyprus News

25th August 2020

Business

COVID19: Cyprus economy to suffer 7.5% decline

Two reports by the University of Cyprus show the Cypriot economy in decline and the uncertain growth trend for 2020 with the main retardant being the coronavirus-imposed lockdown in March and its

3rd August 2020

Business

COVID19: EU says Cyprus economy at risk from tourism plunge

Cyprus’ economy is under significant strain from the heavy impact of COVID-19 fallout on tourism with expected revenues only 25% of last year’s level, the European Commission’s economic forecast said. Revenue from tourism

7th July 2020

Cyprus/Economy

COVID19: Cyprus economy to shrink by 7% in 2020

Cyprus will see its economy shrink by 7% of GDP as a direct result of the COVID-19 pandemic and the lockdown imposed to contain it, said the Finance Ministry on Thursday. In

25th June 2020

Cyprus/Economy

COVID19: Cyprus introduces €150 mln support schemes

Cyprus on Wednesday announced a raft of new measures in a €150 mln support package for the economy to deal with effects of the pandemic with total rescue funds touching €3 bln.

17th June 2020

Business

COVID19: Cyprus Central Bank acted swiftly to buffer economy

A nine-month loan repayment freeze and a €1.4 bln capital release issued to the banks, gave time for the economy to recover from the shock of COVID-19 lockdown, said Cyprus Central Bank

5th June 2020

Business

COVID19: Cyprus economy enters recovery mode

Green shoots of recovery are emerging post-COVID-19 lockdown as the economy begins to breathe again, said Finance Minister Constantinos Petrides. Cyprus President Nicos Anastasiades and Petrides discussed the battered economy with the

2nd June 2020

Business

COVID19: Cyprus economy to enter ‘serious recession’

Cyprus Central Bank Governor, Constantinos Herodotou warned the economy will experience a “serious recession” in 2020 due to the coronavirus pandemic fallout but for how long is unknown. “The economy’s prospects for

29th May 2020

Business

COVID19: Cyprus pumps extra €2 bln to restart economy

An improved government financial package for reviving the economy after COVID-19 lockdown will act as the confidence boost needed for a quick recovery, said Cyprus Finance Minister Constantinos Petrides. Petrides presented on

28th May 2020

Business