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


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


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