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EU: Cyprus economy to shrink 6.2% GDP in 2020

Cyprus’ pandemic-struck economy is expected to contract by 6.2% GDP in 2020, rebound 3.7% in 2021 and 3% the year after, said the European Commission autumn economic forecast. According to the forecast,

5th November 2020

Cyprus/Economy

Economy to contract 5.5% GDP in revised forecast

Cyprus Finance Minister Constantinos Petrides predicts the economy will perform better than expected post-COVID shrinking by less than 5.5% GDP instead of the previously forecast of -7%. “We have succeeded in our

30th September 2020

Cyprus/Economy

Cyprus economy could shrink less than 7% GDP

Cyprus’ economy will fare better than expected from the pandemic fallout as it is expected to contract less than 7% of GDP this year, said Finance Minister Constantinos Petrides. In the early

14th September 2020

Cyprus/Economy

Cyprus says economy will shrink by 7% GDP in 2020

Cyprus’ Finance Ministry, after re-evaluating the impact of the coronavirus pandemic, is sticking to its basic scenario of the economy shrinking by 7% GDP this year. In comments to the Cyprus News

25th August 2020

Business

COVID19: Cyprus GDP plunges 11.9% in Q2

Cyprus COVID-ravaged economy plunged an estimated 11.9% of annual GDP in the second quarter of 2020 as it tried to contain the pandemic. Based on seasonally and working day adjusted data, GDP

14th August 2020

Business

COVID19: Cyprus public debt jumps to 113% of GDP

Cyprus general government debt spiked to 113% of GDP (€24.56 bln) in April, reflecting the borrowing spree the Finance Ministry mounted to mitigate the impact of the coronavirus outbreak. Cyprus’ debt bloated

3rd June 2020

Business

DBRS: Cyprus confirmed at BBB (low) on fiscal spending worries

DBRS Morningstar has confirmed the Republic of Cyprus’s long-term foreign and local currency – issuer ratings at BBB (low) and changed the trend to ‘stable’ from ‘positive’, with the short-term foreign and

16th May 2020

Cyprus/Economy

Cyprus economy shrinks 1.3% during Q1 2020

Cyprus’ economy contracted 1.3% of GDP in the first three months of the year which includes the COVID-19 outbreak in early March. Seasonally adjusted GDP decreased by 3.8% in the euro area,

15th May 2020

Business/Europe

COVID19: Cyprus GDP to shrink 6% then rebound in 2021, says EBRD

Coronavirus-affected economies across Europe could contract on average by 3.5% this year with a rebound of 4.8% possible in 2021, according to a European Bank for Reconstruction and Development report. EBRD warns

13th May 2020

Business/Europe

EU generated €13.9 trillion GDP in 2019

In 2019, the European Union (EU) generated around €13.9 tln in GDP, spiking 17% higher than its level a decade earlier, according to Eurostat data released on Friday. Unsurprisingly, Cyprus was among

8th May 2020

Business/World