Minister concerned that Brussels might withdraw €657m subsidy for energy project

Papanastasiou said the European Commission has already reacted following CERA's decision to reject IPTO's charging proposal

08:16 - 05 July 2024

Corporation loans for over €1 million up 10% in May, despite increase on rate

The Central Bank of Cyprus has released statistics on interest rates applied by monetary financial institutions in Cyprus

08:14 - 05 July 2024

Commission receives Cyprus' third payment request for €89.2 million in grants

The Commission said that Cyprus' third payment request, received on 4 July, concerns 12 milestones and 4 targets

08:11 - 05 July 2024

Completion of LNG terminal in Vasilikos a priority, Energy Minister says

Papanastasiou said that the energy sector in Cyprus faces many challenges, mainly isolation and very high costs

08:08 - 05 July 2024

President outlines goal for a healthy fiscal environment before the business community

He noted that when the country's economy is doing well, the government could implement a targeted social policy

08:03 - 05 July 2024

President announces €10m budget increase for Deputy Ministry of Tourism

President Nikos Christodoulides also unveiled a five-year plan designed to mitigate seasonality in the tourism sector

08:08 - 03 July 2024

'Vision 2035' for the Cypriot economy to be updated

The Strategy comprises of a set of actions, reforms and institutional changes for the Cypriot economy

08:03 - 03 July 2024

Greek energy regulator approves regulated income formula on Great Sea Interconnector

So far, the Great Sea Interconnector has been granted financing by the EU Connecting Europe Facility amounting to €657m

07:54 - 03 July 2024

Cyprus retail trade turnover grows in May

The Turnover Value Index for the retail sector increased by 4.5% compared to May of the previous year

07:58 - 02 July 2024

CBC maintains countercyclical buffer rate at 1%

The Central Bank of Cyprus has decided to maintain the countercyclical buffer (CCyB) at its existing level

07:56 - 02 July 2024

Tourism revenue up 5.5% in first four months of 2024

For the period from January to April 2024, tourism revenue is estimated at €440.7 million

07:54 - 02 July 2024

Fiscal surplus reaches €591 million in first five months of 2024

The figure shows a significant rise compared to the surplus of €322.7 m recorded in the same period of 2023

07:51 - 02 July 2024

Number of students in Cyprus has doubled in the last 10 years, Minister says

The Minister noted in recent decades the development of the university education sector in Cyprus has been significant

08:16 - 01 July 2024

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Economy

Minister concerned that Brussels might withdraw €657m subsidy for energy project

Corporation loans for over €1 million up 10% in May, despite increase on rate

Commission receives Cyprus' third payment request for €89.2 million in grants

Completion of LNG terminal in Vasilikos a priority, Energy Minister says

President outlines goal for a healthy fiscal environment before the business community

Balance of payments and IIP improved, net external debt down in Q1 2024

Cyprus submits request for the fourth tranche under the RRF

Passenger traffic in Cyprus’ two airports "best ever" for first half of 2024

European Commission approves request for targeted review of Cyprus Recovery Plan

Cyprus granted 5-year period to comply with PDO Halloumi specifications

Reduced revenues in budget implementation by May

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