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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Cyprus enjoyed 1.1% Q4 GDP growth

In the fourth quarter of 2022, GDP growth in Cyprus was estimated to have increased by 1.1% compared with the previous quarter, while EU growth was static. This compares with a 0.1% increase

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Household debt dips to 77% of GDP

Household debt reached €20 bln, equivalent to 77% of Gross Domestic Product in Q3 2022, marking a slight decrease compared to the previous quarter due to the increase in GDP, according to

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Economy grows by 6% GDP

Cyprus’ economy has grown by 6% GDP in the first nine months, despite the ongoing fallout from the war in Ukraine and the subsequent sanctions on invading Russia, said the Central Bank.

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Cyprus economy recovering from COVID

Cyprus’ economy is recovering from the COVID-19 pandemic, as data shows that GDP in the first nine months has grown faster than expected. According to data released by CyStat, the economy grew

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Cyprus has largest tax-to-GDP rise

Cyprus had the largest rise in the EU in its tax-to-GDP ratio, meaning the sum of taxes and net social contributions as a percentage of gross domestic product, according to Eurostat data.

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