Economic sentiment at 17-month low

Economic sentiment deteriorated in August to a 17-month low, as the University of Cyprus index decreased by 4.5 points from July amid a cost of living crunch. The decrease in the ESI-CypERC

Cyprus hails Moody’s economy upgrade

The Finance Ministry welcomed Moody’s acknowledgement the Cyprus economy was resilient and had the potential to overcome the challenges. The ministry issued a statement following Moody’s decision to change the outlook on

Cyprus unemployment rises to 5.1%

The seasonally-adjusted unemployment rate in Cyprus was lower than the European average at 5.1% in June, compared to 6.6% in the euro area and 6.0% in the EU, according to Eurostat. But

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Central Bank downgrades GDP growth

The Central Bank of Cyprus (CBC) has downgraded its forecast for 2022 GDP economic growth by 0.9 percentage points due to the negative effects of the Ukraine war and the sanctions against

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Vision 2035 to turn economy greener

Cyprus’ long-term strategy for a new growth model titled “Vision 2035” seeks to transform the economy based on green sustainability, not wishful thinking, said Finance Minister Constantinos Petrides. The “Vision 2035” strategy,

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