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181. 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....

182. Greek PM tweaks cabinet to increase efficiency on economy, labor and environment

Prime Minister Kyriakos Mitsotakis has introduced changes to the makeup of his cabinet aimed at increasing its “operational efficiency,” government spokesman Stelios Petsas said on Tuesday....

183. Cyprus to draw over €2.7b from EU pandemic recovery fund

European Union leaders reached a deal on a massive stimulus plan for their coronavirus-blighted economies at a pre-dawn meeting on Tuesday after a fractious summit that went through the night and into its fifth day....

184. US to include Cyprus in army programme

The American Embassy in Nicosia says the United States are looking forward to expanding their military education and training programmes to include Cyprus, with plans to introduce professional and technical courses in 2021...

185. 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....

186. 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....

187. Anastasiades discusses Turkey, EU role with top EU officials

President Nicos Anastasiades found mutual understanding with European Council President Charles Michel and EU Foreign Affairs Chief Josep Borrell regarding the role the EU must play in view of Turkey’s activities in the eastern Mediterranean....

188. 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....

189. Greek economy to get multi-billion-euro lifeline

Prime Minister Kyriakos Mitsotakis will announce steps to revive the economy in a televised address on Wednesday. These steps will be mainly focused on tourism but will also concern other sectors affected by the coronavirus pandemic. ...

190. The crisis is here and should not be underestimated, FinMin warns parties

As political parties continue to quarrel over a bill seeking to release government funds as guarantees for loans to businesses hit affected by the coronavirus outbreak, Cyprus Minister of Finance Constantinos Petrides warned that “the crisis is here and should not be underestimated.”...

191. The market needs oxygen, FinMin says

The market needs oxygen, Finance Minister Constantinos Petrides said Monday, stressing that the least citizens expect from politicians is to reach a consensus in order to support the economy in line with a prudent policy without placing it in further danger....

192. Government funds not unlimited, Finance Minister warns

Finance Minister Constantinos Petrides said Monday that the government does not have unlimited funds with which to support the local economy during these tough times....

193. Euro zone ministers look for economy quick fixes

Euro zone finance ministers are likely to converge on Tuesday on three quick options to support the economy in the wake of the coronavirus epidemic, officials have said, with some discussion also of longer-term ideas to aid a recovery....

194. Coronavirus’ impact on local businesses

The organisation’s experts discuss the developments and analyse the measures that need to be taken to address the challenges...

195. Tax alert: Cyprus

196. EU to launch €37bn coronavirus investment initiative

The European Union will launch a 37 billion euro investment initiative as part of a package of measures to cushion the bloc’s economies from the impact of coronavirus, European Commission President Ursula von der Leyen said on Friday....

197. Coronavirus cases in Greece rise to eight

Greece has confirmed a new case of coronavirus, the Health Ministry said Wednesday, bringing the total number of coronavirus infections in the country to eight....

198. Greek PM meets with five EU leaders over bloc's budget

Greek Prime Minister Kyriakos Mitsotakis held talks in Brussels on Friday with the leaders of Germany Angela Merkel, France Emmanuel Macron, Spain Pedro Sanchez, Italy Giuseppe Conte and Portugal Antonio Costa in a bid to break a deadlock in negotiations for the European Union’s 2021-2027 budget....

199. Cyprus enjoys strong growth prospects but contingent liabilities remain

Strong growth prospects and sustained fiscal discipline places Cyprus on a firm declining path but contingent liabilities, healthcare and public sector wage-related costs, as well as weaker external conditions, pose risks to the fiscal outlook, Scope rating agency said in commentary on Cyprus....

200. 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...

201. 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...

202. 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...

203. 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...

204. «Growth momentum moderates» in Cyprus according to Εuropean Commission Autumn Economic Forecast

"Growth momentum moderates" in Cyprus, according to the headline assessment of the European Commission`s Autumn Economic Forecast for the country, presented today by Commissioner Moscovici in Brussels....

205. Cyprus fiscal surplus at 4.3% of GDP

Cyprus general government surplus was at 4.3% of GDP in the first eight months of 2019, mainly due to the increase in social contributions and revenue from taxes, according to the preliminary General Government fiscal results for the period of January-August 2019 released Friday by the Statistical Service of Cyprus. ...

206. Government to introduce Green Tax Reform by 2021

Minister of Finance Harris Georgiades said on Thursday that the government would introduce in 2021 a “Green Tax Reform”. Georgiades was speaking to the press on the sidelines of the 20th Global Conference on Environmental Taxation which took place in Limassol...

207. Moody's changes Cyprus outlook to positive

Rating agency Moody’s changed the outlook for the Cypriot economy to positive from stable, citing the reduction of the sovereign exposure to event risks stemming from the banking sector and the improving fiscal strength beating previous expectations...

208. Cyprus to fully repay IMF loan in 2020

According to figures from the 2020 budget presented by Finance Minister Haris Georgiades to the Cabinet, Cyprus will repay the IMF loan early resulting in government debt reduction to 91.1% of GDP ...

209. Cabinet approves surplus 2020 budget

The Cabinet approved on Wednesday the budget for 2020, which foresees a surplus in state finances, while a significant increase in spending is planned due to the implementation of the General Healthcare System ...

210. Scope rates Cyprus with BBB-

Scope Ratings affirmed last week the Republic of Cyprus’ BBB- long-term issuer and senior unsecured local- and foreign-currency ratings, along with a short-term issuer rating of S-2 in both local and foreign currency, noting that all outlooks are stable...