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61. Labor Minister discusses 'Cost of Living Allowance' for Cyprus

In an interview with Oriana Papantoniou, Minister of Labor and Social Insurance Yiannis Panayiotou highlighted the significant strides made during his first year in office, emphasizing a people-centric approach to governance. ...

62. Cyprus praises EU financial plan for 2025

The joint statement on the orientation of the eurozone’s fiscal policy for 2025 satisfies Cyprus as it validates the cautious and conservative fiscal policy that Cyprus has followed so far, Minister for Finance Makis Keravnos said in Brussels, where he was attending the meeting of the Eurogroup on Monday....

63. Government courts global investors in ambitious growth push

In a bid to position Cyprus as an enticing destination for foreign investments, the President of the Republic addressed a gathering of over 100 foreign investors and companies at the Presidential Palace. ...

64. Cabinet moves forward with plan to support Cyprus entrepreneurs

Cyprus is gearing to set up a National Development Organisation which coupled with the Cyprus Equity Fund will promote entrepreneurship by covering financing gaps for small and medium-sized enterprises and start-ups, Minister of Finance Makis Keravnos said on Wednesday....

65. Bank of Spain governor to engage in economic talks with Cyprus officials

66. Cyprus set to join Great Sea Interconnector project

In a significant move aimed at enhancing regional energy cooperation, Cyprus is considering participation in the ambitious Great Sea Interconnector project, according to statements from government officials....

67. Cabinet reduces civil servants' sick leave days

The Cabinet of Ministers, led by Finance Minister Makis Keravnos, has greenlit a significant amendment to regulations governing sick leave for civil servants....

68. Businesses receive €14 million in pandemic blunder

In an inadvertent error, support payments totaling EUR 13.82 million were extended to 152 cases, failing to meet subsidy criteria under the Plan's terms and conditions. ...

69. Makis Keravnos voices concerns over geopolitical developments

The global supply chain disruption and its economic impact on Europe and the world have raised concerns among Europeans....

70. Keravnos attends Brussels ECOFIN meeting

Minister of Finance Makis Keravnos is in Brussels to take part on Monday in the meetings of the Eurogroup and the EU Finance Ministers Council (ECOFIN)....

71. Allegations of bank interference surrounding reshuffle speculations

In the midst of last week's political reshuffle speculations, with Irene Piki, the current Deputy Minister to the President, being touted as the likely successor to the Finance Ministry, a new leak from the President's office raised eyebrows...

72. A government on fragile ground

In May 2022, Nikos Christodoulides announced his candidacy for the Presidency of the Republic, only to be overshadowed by the revelation of a partially plagiarized speech from Ioannis Kasoulides during the 2008 presidential election....

73. Cyprus unveils new e-consultation platform for public feedback

The Council of Ministers approved Thursday the establishment of a public consultation platform, known as e-consultation, Minister of Finance Makis Keravnos said after the Cabinet meeting....

74. Government seeks €1B via EMNT bond in 2024

Cyprus’ financing needs for 2024 amount to €1.3 billion, largely to be covered by the issuance of a €1 billion EMNT bond, the Finance Ministry’s Public Debt Management Office (PDMO) has said. ...

75. Cyprus-France convention breaks fiscal barriers

In a strategic maneuver to bolster economic collaboration, Cyprus and France are gearing up to sign a pivotal Convention on Monday in the capital city of Nicosia....

76. President Christodoulides grilled on Russia sanctions progress

The President of the Republic, Nikos Christodoulides, was informed during a meeting on Monday at the Presidential Palace about the course of implementation of decisions taken regarding the improvement of the monitoring framework of the sanctions imposed on Russia by the USA and about the course of investigations carried out for violating sanctions. ...

77. Finance Minister perturbed over 'Cyprus Confidential'

Finance Minister Makis Keravnos expressed dismay over the revelations in ''Cyprus Confidential,'' emphasizing concerns about ongoing portrayals of Cyprus as a problematic financial and investment destination....

78. Cyprus delays green tax implementation to early 2024

"It's paranoid that, at a time when there is accuracy and an increase in fuel prices, the government is implementing measures to combat price increases, and additional taxes are being introduced," stated Finance Minister Makis Keravnos during the discussion of the 2024 budget in Parliament....

79. Cyprus and Croatia forge tax treaty for business growth

The Republic of Cyprus and the Republic of Croatia have inked a significant Agreement for the Elimination of Double Taxation during the ECOFIN meeting in Luxembourg. ...

80. Government unveils inflation relief plan for October's end

At the end of October, the government is expected to announce measures to alleviate the impact of inflation, while at the beginning of 2024 the government plans to implement the new green tax on fuels, together with compensatory measures, said the Minister of Finance, Makis Keravnos, while handing over the 2024 state budget to the President of the Parliament, Annita Demetriou. ...

81. Finance Ministry's new measures for the vulnerable in the works

The Finance Ministry is considering new measures to support particularly the vulnerable groups of society amid the continuing pressures from high prices and inflation, Makis Keravnos Minister of Finance said on Monday, adding the measures were in the pipeline irrespective of the rating upgrades by Moody’s and DBRS Morningstar....

82. Cyprus embarks on ambitious reform and overhaul of tax framework

The Cyprus Tax Framework is set for a significant overhaul as work begins on the Integrated Tax Transformation Project. ...

83. Keravnos expects more from banks to boost Cyprus economy

The Cyprus economy has proven its resilience in recent years, Finance Minister Makis Keravnos said Tuesday at the 4th Conference "Banking System: New Challenges and Opportunities", that takes place in Nicosia, noting that there are still challenges that the banking sector must address....

84. SYPRODAT and Government join forces to end non-performing loans

Finance Minister Makis Keravnos expressed satisfaction with the progress made in divestments and the reduction of non-performing loans (NPLs) during a meeting at the Ministry of Finance with SYPRODAT President Costas Melas and Association Director Jenny Papacharalambous....

85. €369 million EIB loan for smart investments

The government has secured a €369 million loan from the European Investment Bank (EIB) with favorable terms to support expenditures and investments within the framework of the "Thalia" program. ...

86. Focus on growth, employment control, and surplus in the 2024 budget

The 2024 state budget to be tabled to the Council of Ministers for approval next week will have three key characteristics, Minister of Finance Makis Keravnos told CNA....

87. Government cuts interest income rates from 30% to 17%

The Cyprus government decided to slash taxation on interest income from 30% to 17%, Finance Minister Makis Keravnos said on Wednesday, noting that banks should follow suit in boosting income for depositors. ...

88. Recovery and Resilience measures target non-performing loans

In a move to address Non-Performing Loans (NPLs) and maximize European funds, Minister of Finance, Makis Keravnos, announced the approval of an action plan under the Recovery and Resilience Plan. ...

89. Potential bank tax discussed amidst rate dissatisfaction

Leaving the door open for potential action, the Finance Ministry is considering an additional tax on banks due to dissatisfaction with their current approach to deposit and lending rates....

90. Fuel tax cut to aid low incomes

The association called "Equality" is requesting a reduction in fuel taxes through a letter addressed to the Minister of Finance, Makis Keravnos....