FinMin revises 2023 growth rate slightly down to 2.8%

Cyprus revised slightly downwards its real GDP growth projection, amid the heightened uncertainty due to the war in Ukraine and …

07:46 - 05 May 2023

Household assets at €59.7b, debt at €20b in 2022

Household financial assets amounted to €59.7b in December 2022, while household debt totalled €20b, corresponding to 74% of Cyprus’ GDP

11:56 - 03 May 2023

UCY upgrades Cyprus growth projections

The University of Cyprus Economic Research Centre (ERC) has revised its Cyprus economy growth forecasts upwards for 2023 and 2024, …

11:11 - 03 May 2023

Cabinet decides zero VAT on bread, milk and other essentials

Finance Minister Makis Keravnos announced that the Cabinet decided for a zero VAT rate on a number of basic everyday …

09:27 - 03 May 2023

Deposits at €52b, loans at €25b in March

Total deposits reached €51.9 billion in March 2023, while total loans stood at €25.1 billion, according to the Central Bank …

09:06 - 03 May 2023

NPLs rose slightly in January

Non-performing loans (NPLs) rose by €12.8m in January compared with December 2022, reaching €2.32b or 9.5% of total loans, according …

08:09 - 28 April 2023

Keravnos heads to Stockholm for Eurogoup and Ecofin meetings

Finance Minister Makis Keravnos will take part in the informal meetings of the Euro Area Finance Ministers (Eurogroup) and EU …

08:01 - 28 April 2023

Herodotou: Bank system stable with strong cash flow

Central Bank of Cyprus (CBC) Governor Constantinos Herodotou told a panel discussion that Cyprus’ banking system was now stable with …

10:32 - 27 April 2023

Economic sentiment deteriorated in April

Economic sentiment deteriorated in Cyprus this April, with the relevant indicator dropping 2.8 points compared with March 2023. The Consumer …

08:12 - 27 April 2023

Ship management revenue has continued to recover since pandemic

Revenue from Cyprus’ ship management industry continued its upward trend in the second half of 2022, reaching €648m, up by …

07:52 - 27 April 2023

Trade deficit reached €7,101.0m in 2022

The main partner country in imports for 2022 was Greece whereas the main partner country in exports of domestic goods …

15:28 - 26 April 2023

Deputy Minister of Tourism Koumis meets with UK strategic partners

Deputy Minister of Tourism Kostas Koumis has held a series of meetings with representatives of Cyprus’s “strategic partners” in London

08:06 - 26 April 2023

The Republic's debt interest rate risk is limited thanks to ESM, report says

The interest rate risk for the debt of the Republic of Cyprus is limited, despite the continuous rise in the …

07:49 - 26 April 2023

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Economy

FinMin revises 2023 growth rate slightly down to 2.8%

Household assets at €59.7b, debt at €20b in 2022

UCY upgrades Cyprus growth projections

Cabinet decides zero VAT on bread, milk and other essentials

Deposits at €52b, loans at €25b in March

Retail trade value up a yearly 10.9% in March

Moody’s: Cyprus a “potential rising star” for credit rating boost

Cyprus: Third highest rate of people working long hours in EU

CI Ratings: Cyprus’ sovereign ratings affirmed; outlook remains stable

Fuel sales down 6.7% y-o-y in March

Industrial production rose 0.6% in February

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