https://knews.kathimerini.com.cy/en/news/tourists-spend-over-€1-5-billion-setting-new-high
The most recent data from the Statistical Service regarding tourism revenues are confirming expectations, as expressed by Deputy Minister of Tourism Kostas Koumis in a recent interview with "K". It appears that this year could potentially set a new record for tourism revenues....
https://knews.kathimerini.com.cy/en/news/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.
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https://knews.kathimerini.com.cy/en/news/26-9-increase-in-tourism-revenue-compared-to-last-year
The year 2023 is poised to go down in history with remarkable revenue figures, as highlighted in a recent interview with the Deputy Minister and substantiated by the latest tourism revenue data from the Statistical Office....
https://knews.kathimerini.com.cy/en/news/15-4-spike-in-public-expenditure-for-2024
In the 2024 Budget, there's a notable rise of EUR 0.5 billion in public personnel expenditure. According to the Council of Ministers' approved budget table for 2024, this marks a substantial increase of 496 million euros. In terms of percentages, this surge amounts to 15.4% compared to the personnel expenditure allocated for the public sector in 2023....
https://knews.kathimerini.com.cy/en/news/2024-budget-points-to-surplus-and-debt-reduction
The 2024 budget reflects the clear imprint of our policy priorities, President of the Republic Nikos Christodoulides says in a written statement, adding that the fiscal balance for 2024 is estimated to be surplus, reaching 2.2% of GDP, while the medium-term goal, by 2026, is to reduce public debt to 60%....
https://knews.kathimerini.com.cy/en/news/supreme-court-rejects-president-s-referendum-on-turkish-cypriot-properties
In a significant ruling, the Supreme Constitutional Court, in its new composition, rejected the President's third referendum on the amendment law passed by the Parliament concerning Turkish Cypriot properties and the powers of the 'Guardian.'...
https://knews.kathimerini.com.cy/en/business/how-high-is-too-high-before-tax-relief-kicks-in
Diesel prices have dipped by nine cents per liter at gas stations compared to late August, while unleaded 95-octane petrol is now six cents cheaper....
https://knews.kathimerini.com.cy/en/news/€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. ...
https://knews.kathimerini.com.cy/en/news/tourism-revenue-soars-to-just-over-€1-billion-in-first-half-of-2023
Tourism revenue in Cyprus has seen a remarkable surge in the first half of this year. The latest data from the Statistical Service of Cyprus (Cystat) reveals that revenue from tourism amounted to a staggering €1.09 billion. ...
https://knews.kathimerini.com.cy/en/news/government-offers-50-aid-for-homeownership-in-old-nicosia
The Ministry of Interior has announced the ongoing opportunity to apply for the Nicosia Within Walls City Housing Regeneration Scheme. ...
https://knews.kathimerini.com.cy/en/news/cyprus-faces-deceleration-amid-inflation-and-rising-rates
Cyprus' economy experienced a slowdown in the second quarter of 2023, prompting inquiries about the situation. According to the preliminary estimate provided by the Statistical Service, ...
https://knews.kathimerini.com.cy/en/news/gdp-alert-economic-storm-brewing
Former Minister of Finance, Konstantinos Petrides, comments on the GDP results for the 2nd quarter with five observations....
https://knews.kathimerini.com.cy/en/news/russia-implements-bold-rate-hike-amidst-economic-challenges
Russia's central bank took swift action today, increasing its key interest rate by 350 basis points from 8.5 percent to 12 percent. This urgent move aimed to counteract the recent decline of the ruble, which was triggered by the Kremlin's call for stricter monetary policy....
https://knews.kathimerini.com.cy/en/news/tourism-sets-record-revenue-with-fewer-arrivals
The latest data on tourism revenues for the month of May has brought encouraging news for the tourism sector, signaling positive effects on the Cypriot economy....
https://knews.kathimerini.com.cy/en/news/government-achieves-€155-5m-surplus-in-2023
Cyprus government's surplus for the first half of 2023 increased to €155.5 million, equivalent to 0.5% of GDP, compared to a deficit of €92.4 million (-0.3% of GDP) for the period of January-June 2022, based on preliminary fiscal results from the Statistical Service of Cyprus.
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https://knews.kathimerini.com.cy/en/news/commission-wants-more-independence-for-cyprus-prosecutor
The European Commission has stressed the need for Cyprus to strengthen the independence and the accountability of the Prosecution Service...
https://knews.kathimerini.com.cy/en/news/health-ministry-increases-ivf-subsidy-to-boost-fertility-rates
In an effort to combat under-fertility and bolster population growth, the Council of Ministers has approved a proposal to revise the subsidy scheme for infertility treatment in Cyprus. ...
https://knews.kathimerini.com.cy/en/news/backlash-over-cyprus-vat-refund-change
The recent decision made by the Department of Customs to raise the expenditure limit for VAT refunds to third-country travelers visiting Cyprus is receiving criticism for its adverse effects on tourism expenditure....
https://knews.kathimerini.com.cy/en/news/cabinet-approves-tax-deductions-for-businesses-and-extends-tax-payment-deadline
The Cabinet approved several important measures on Wednesday, including a bill on tax rebates for businesses for energy upgrades, an extension of the tax payment deadline, and a suspension of the obligation to file tax returns for individuals with a taxable income below €19,500....
https://knews.kathimerini.com.cy/en/news/energy-minister-puts-forth-cyprus-natural-gas-to-cut-costs-for-consumers
Cyprus' Energy Minister George Papanastasiou said that, during his discussions with consortiums operating in the Cypriot Exclusive Economic Zone (EEZ), he suggested the option of importing natural gas quantities from the EEZ for power generation, in combination with LNG exports via a small LNG plant....
https://knews.kathimerini.com.cy/en/news/surplus-of-€363-mn-recorded-in-cyprus-in-jan-feb-2023
A surplus of €363 mn or 1.3% of GDP for the period of January-February 2023, according to the preliminary General Government fiscal results, published by the Statistical Service of Cyprus on Friday....
https://knews.kathimerini.com.cy/en/news/investors-flock-to-green-bonds-as-a-secure-investment
https://knews.kathimerini.com.cy/en/business/tourism-revenue-at-€45-6-million-in-january
Revenue from tourism amounted to €45.6 million in January 2023, significantly surpassing the revenue from tourism in January last year, as well as in January 2019, a record year for Cypriot tourism....
https://knews.kathimerini.com.cy/en/business/cyprus-hourly-labor-costs-below-eu-average-at-19-4-euros
The average hourly labor costs in Cyprus increased from €18 in 2021 to €19.4 in 2022, according to Eurostat. Hourly labor costs were the lowest in the EU in Bulgaria (€8.2) and Romania (€9.5), and highest in Luxembourg (€50.7), Denmark (€46.8) and Belgium (€43.5). ...
https://knews.kathimerini.com.cy/en/news/sustainability-is-the-name-of-the-game
The Deputy Ministry of Tourism in Cyprus has announced plans to create a new tourism strategy with a horizon of 2035. ...
https://knews.kathimerini.com.cy/en/news/nicosia-among-small-european-cities-of-the-future
Nicosia ranks first in the category of small European cities of the future for human capital and lifestyle, according to the results of the European Cities & Regions of the Future 2023 global ranking....
https://knews.kathimerini.com.cy/en/news/cyprus-gdp-and-employment-up-according-to-eurostat
Both GDP and employment increased during the 4th quarter of 2022 compared to the previous quarter in Cyprus, while in the eurozone GDP remained stable and employment increased and in the EU GDP fell and employment increased, according to estimates released by Eurostat, the statistical service of the EU....
https://knews.kathimerini.com.cy/en/news/consumers-cutting-back-on-non-essential-items-as-cost-of-living-rises
As the cost of living crisis continues to rise globally, consumers have drastically adjusted their spending behaviors, with the majority (53%) of global consumers “holding back” on non-essential spending. ...
https://knews.kathimerini.com.cy/en/news/tourists-are-spending-13-more-in-cyprus
If there is one thing that has changed in the past year's data on the tourism industry, it is the realization that, even though there are fewer visitors coming in than in 2019,...
https://knews.kathimerini.com.cy/en/news/president-cancels-order-for-state-vehicles
The government has withdrawn the request pending before the parliamentary finance committee for the purchase of vehicles for state officials, the parliamentary finance committee said....