income Archives - Financial Mirror

Cypriots save 6.5% of disposable income

People in Cyprus saved only 6.5% on average of their disposable income, half the EU average of 12.7%, according to Eurostat non-financial sector accounts 2022 data. Saving rates were significantly lower than

22nd November 2023

Cyprus/Europe

EU disposable income improves

EU annual median disposable income has risen to 18,706 of purchasing power standards per inhabitant from €18,011 PPS, while Cyprus is above the European average. At the national level, the EU countries with the highest

3rd November 2023

Cyprus/Europe

Tax on interest income slashed

The government decided to slash taxation on interest income from 30% to 17%, Finance Minister Makis Keravnos said, hoping banks will follow suit in boosting revenue for depositors. During the 2013 financial

13th September 2023

Business

Cypriot families can’t cope with one income

Cypriot households need more than €2,000 a month to get by, well over the median wage of €1,573, while inflation continues to erode their income. According to a Phileleftheros daily report, an

12th September 2022

Cyprus/Economy

Tourism income reaches 2019 levels

Income from tourism in the first six months was just 17% lower than revenues flowing in back in the record-breaking year of 2019, as Cyprus strives to shake off the pandemic. According

30th August 2022

Cyprus/Life & Society

Help for low-income groups as inflation bites

The government will support low-income groups hit by the highest inflation rate for decades, said Finance Minister Constantinos Petrides. Cyprus’ inflation in April spiked 8.6% in the Harmonized Consumer Price Index compared

3rd May 2022

Cyprus/Economy

Free holidays for low-income pensioners

This summer, low-income pensioners can enjoy a free stay at mountain resorts after the government has approved a new funded holiday scheme. The subsidised scheme will run from June 1 to July

14th April 2022

Cyprus/Life & Society

Cyprus tourism income nosedived 85% in 2020

Revenue from Cyprus’ key tourism sector plunged more than 85% last year as the travel industry was decimated by the pandemic and lockdowns to contain it. According to data for 2020, revenue

2nd March 2021

Cyprus/Life & Society

COVID19: Cyprus tourism income hits rock bottom

Cyprus tourism revenue recorded a steep annual drop for the first six months of this year, data released by the Cyprus Statistical Service show. Revenue from tourism in June 2020 reached €6.7

21st August 2020

Cyprus/Economy