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.
Consumer Price inflation is forecast at 8.6% for 2022, slipping to 3.4% in 2023, while GDP growth this year is projected at 4.9%, followed by a lower 2.4%, the University of Cyprus
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,
Cyprus’ economy is expected to grow by more than 5% GDP in 2022; the Finance Ministry said preliminary estimates showed a 6.1% year-on-year growth in Q2 despite the fallout from the Ukraine
By Craig Erlam It’s been an underwhelming start to the week in financial markets with the eternal optimism of investors clashing with the reality of Chinese economic data. There’s a bizarre
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
The European Commission has praised the Cypriot economy for exceeding expectations during the year’s first quarter while also delivering bad news regarding high inflation. “The Cypriot economy surprised on the upside in
Rating Agency, DBRS Morningstar, slashed Cyprus’ baseline growth rate by 0.7% for 2022, citing the deteriorating outlook following Russia’s invasion of Ukraine. In its updated sovereign baseline scenarios, the Canadian rating agency
Hospitality is the driving force behind the economy’s 5.6% GDP growth in the first quarter of the year, as other sectors struggle to recover following two years of COVID restrictions. The recovery
GDP growth in Cyprus this year will decelerate to 2.3% from the previous estimate of 3.6%, while inflation will more than double due to negative geopolitical developments associated with the war in
