Businesses should be outward looking

President Nikos Christodoulides said enhancing Cyprus’ outward orientation by attracting more foreign investments and promoting integration with other ecosystems, leveraging the potential of the digital economy, is necessary. Addressing Wednesday’s 15th In Business

Tourism on course for record year

Robust growth in tourist arrivals and revenues this year will offset losses the economy may suffer from sanctions on Cyprus’ services sector, according to initial Finance Ministry estimates. As reported by the


More items to get zero VAT

The government will add more commodities to a list of essential products carrying zero VAT to ease the cost-of-living crisis. Two weeks after introducing the first list of items with zero VAT,


Greece at crossroads as country votes

As Greece heads for a general election on Sunday, the government’s management of the economy, the alternative paths of economic success, and promises of wellbeing by opposition parties are under scrutiny. The


CoLA not the answer to beating inflation

Adjusting wages to meet inflation with automatic mechanisms such as the Cost-of-Living Allowance will not solve the real problem of income inequality with low-earners not seeing their earnings improve for a decade,


Consumer confidence deteriorates

In April, economic sentiment deteriorated, weighed by a three-year low in consumer confidence battered by a cost-of-living crisis and weaker business activity, according to a University of Cyprus index. The university’s Economic


Nicosia heralds Fitch upgrade

The upgrading of Cyprus’ long-term credit rating by one notch with a stable outlook citing outperformance of fiscal balance and growth rate, is an important development, said President Nikos Christodoulides. He credited


Economy slowing, but better than 2019

Cyprus’ economy slowed in 2022; however, the island’s Gross Domestic Product continued to grow past €24 bln, surpassing pre-coronavirus 2019 levels. According to the data released by the Statistical Service, the economy

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