Cyprus can weather economic challenges

Finance Minister Constantinos Petrides believes Cyprus can tackle the new risks and challenges stemming from the war in Ukraine and soaring inflationary pressures. He was addressing the 8th International Funds Summit and

Banks must address structural vulnerabilities

Increased interest revenue from monetary policy normalisation should not overshadow Cypriot banks’ structural vulnerabilities, argued Cyprus Central Bank governor Constantinos Herodotou. Speaking to MPs, Herodotou said Cypriot banks are expected to significantly

Average gross monthly earnings up 5%

The average gross monthly earnings of Cyprus employees increased by €100 in the second quarter of 2022, according to provisional data published by the Statistical Service. Wages reached €2,081, compared to €1,982 in 2021,

Economic sentiment improves

Economic sentiment improved during September by 4.5 points compared with August, as consumer confidence recovered, according to the Economics Research Centre of the University of Cyprus (CypERC). The increase in the ESI-CypERC index

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


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


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,


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”

1 5 6 7 8 9 26