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1. Dr. Anastasatos forecasts bright future for Cyprus economy

Eurobank group's chief economist, Dr Tasos Anastasatos, expresses optimism about the Cyprus economy, emphasizing that the decision to expand the group's banking presence in Cyprus is linked to these positive economic prospects....

2. Global economy faces worst 5-year period in 30 years

The World Bank projects a sluggish global economy from 2020 to 2025, marking the worst five-year period in the last three decades....

3. Cyprus gets BBB+ boost in latest ratings, but challenges persist

The German Scope Ratings have given a positive sign for Cyprus by upgrading the country to BBB+ last Friday from the previous BBB while keeping the outlook of the economy stable. ...

4. US eases defense trade rules for Cyprus in 2024

The US Secretary of State has lifted the Defense Trade Restrictions on the Republic of Cyprus for the fiscal year 2024....

5. UN chief sees no common ground in divided Cyprus

UN Secretary-General Antonio Guterres' report on the United Nations Peacekeeping Force in Cyprus, released on Wednesday night as an official document of the Security Council, number S/2023/3, records the lack of common ground between the two sides for peace talks leading to a mutually agreeable solution...

6. Wim Van Aken talks recession and the predictions for Cyprus

We are facing a double shock. First, we had the Covid-19 shock and now the global and European economies are facing a new shock with the war in Ukraine. Both events are unprecedented for many of us....

7. IMF predicts a return to fiscal surpluses for Cyprus following the pandemic

Cyprus’ public finances will return to surpluses in 2023 which will continue until 2027, the IMF said in its Fiscal Monitor 2022 issued on Wednesday....

8. Kasoulides on Bloomberg: Cyprus concerned by Aegean Sea rhetoric (video)

Cyprus is wary of getting drawn into a potential conflict between Greece and Turkey as rhetoric between the countries intensifies, Cypriot Foreign Minister Ioannis Kasoulides said....

9. Turkey threatens Cyprus and East Med security over arms issue

Turkey has threatened Cyprus and the Eastern Mediterranean and condemned the United States after the US decided to lift an arms embargo on Cyprus....

10. US lifts embargo on Cyprus but with Russian caveat

Washington says it will go all the way in lifting an arms embargo on the Republic of Cyprus starting next month, but defense trade restrictions could be reapplied at any time if Nicosia fails to implement certain steps against Russia...

11. 'Cyprus Tomorrow Plan': The legacy of the Anastasiades government

Cyprus President Nicos Anastasiades said he has a “clear conscience” as he delivered on his commitments concerning the creation of a “welfare state with no exclusions,”...

12. US government getting serious about UFO's

The Pentagon will soon open an office focused exclusively on investigating UFO sightings, according to a statement released by the U.S. Department of Defense (DOD) on July 20....

13. Lagarde: Cyprus will be affected by inflation and rising energy costs

Cyprus will be affected by inflationary pressures and higher energy costs due to its dependence on oil imports for electricity generation, according to European Central Bank President Christine Lagarde....

14. Cyprus economy grew by 5.7% in 2021 according to Eurostat

The continued high rate of growth in the fourth quarter of 2021 confirms the resilience and dynamism showed by the Cypriot economy and the soundness of our policies, boosting expectations for further growth in 2022, Finance Minister Constantinos Petrides said on Tuesday....

15. Debt sustainability in all Member States

ESM Managing Director Klaus Regling strongly believes that public debt is currently sustainable in all Member States of the monetary union. ...

16. ECB tells Cyprus lawmakers to get it right

Elizabeth McCaul, Member of the Supervisory Board of the ECB, advised caution over possible amendments to the Cyprus foreclosure law stressing that 'such policies can also backfire and destabilize the banking sector if designed in a haphazard manner'...

17. IMF: Withdrawal of support measures should be gradual

An International Monetary Fund (IMF) mission met virtually with the Cypriot authorities from March 8–29, 2021 to discuss recent economic developments and policy priorities on the island. In an interview with Kathimerini Cyprus, IMF mission chief for Cyprus, Anita Tuladhar, said the longer the recovery period in sectors related to tourism, the greater the chance that permanent scars will remain in the economy of Cyprus. Tuladhar also noted the importance of state-sponsored programs to support the economy....

18. FinMin: Cyprus to reduce debt once pandemic normalises

Cyprus Minister of Finance Constantinos Petrides told the Cyprus News Agency that the government will begin reducing public debt, increased due to strategic cash reserves, once the pandemic begins to normalise....

19. Policy priorities unaffected by pandemic, FinMin says

Despite the crisis of the Covid-19 pandemic Cyprus’ economic policies remain the same, targeting macroeconomic and financial stability, prudent fiscal policies, and establishing a competitive, business-friendly regulatory environment of high standards, Minister of Finance Constantinos Petrides said on Thursday....

20. Cyprus experiencing excessive macroeconomic imbalances

The European Commission said Wednesday that Cyprus continues to face excessive macroeconomic imbalances, particularly in view of the country’s very high percentage of non-performing loans that continue to plague the financial sector, but also in light of high private sector, government, and external debt....

21. Washington lifts Cyprus arms embargo

Washington has announced a partial lifting of a decades-old arms embargo to the Republic of Cyprus, with Turkey saying the decision ignores equality and balance between the two sides on the divided island...

22. A second lockdown would be a grim financial equation

With the rise in coronavirus cases which are mainly located within the local community and not just at the country’s points of entry, whispers of a second lockdown looming have resumed....

23. All set for implementation of new support measures, FinMin says

Finance minister Constantinos Petrides announced the launch of the implementation of three measures, under the government support program, to address the consequences of the coronavirus pandemic....

24. Cyprus the highest climber in IMD 2020 World Competitiveness Ranking

Cyprus was the highest climber in the 2020 IMD World Competitiveness Rankings, marking an improvement in all four categories that make up the overall ranking....

25. Cyprus public debt spikes to €24.5 billion due to Covid-19 crisis

Cyprus General Government debt spiked to €24.56 billion according to official data in April, reflecting the large debt issuances by the Finance Ministry to mitigate the impact of the coronavirus outbreak to the economy....

26. Tax alert: Cyprus

27. Senate-approved EastMed on Trump’s desk

US Congress’ approval of a spending package that includes the Eastern Mediterranean Security and Energy Partnership Act of 2019 signals a “new day in Greek-American relations,” said Senator Bob Menendez, one of the authors of the bipartisan legislation...

28. Turkey warns US over Cyprus arms embargo

Ankara has warned Washington that an impending lift of a US arms embargo on the Republic of Cyprus is a “dangerous escalation” that would hamper efforts to reach a peace settlement on the divided island...

29. House passes 2020 budget

The House of Representatives voted the state budget for 2020 on Wednesday evening with 29 votes in favour and 23 against...

30. US arms embargo to be lifted on conditions

President Donald Trump will have discretion over a current US arms embargo imposed on Cyprus, as both Senate and House conferees have reached an agreement on the defence budget for next year...