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1. IMF says Cyprus untouched by war fallout

The economy of Cyprus is expected to slow to around 2.5% in 2023, reflecting an erosion in household incomes, tighter financial conditions, and delayed impacts from sanctions against Russia, International Monetary Fund forecasts, after the conclusion of the Article IV consultation with Cyprus...

2. Christodoulides: Shift allowances and overtime compensation from 2024

President Nikos Christodoulides addressed the 60th Congress of PASYDY, the Civil Servants' Trade Union, where he discussed significant developments regarding the restoration of shift allowances and overtime compensation for civil servants....

3. Elections: The political 'crash test' in Brussels

In the interim between the two rounds of presidential elections, EU leaders will convene in Brussels for an extraordinary European Council on migration management and ensuring Europe's economic competitiveness. ...

4. Herodotou calls for increased vigilance to avert private debt defaults

Constantinos Herodotou, Governor of the Central Bank of Cyprus (CBC) called for the preservation of fiscal space, as the economic prospects are deteriorating due to Russia’s war in Ukraine....

5. Employing Turkish Cypriots in ROC can play a key role in reunification

In a letter to Nicosia, the European Commission is calling for the upgrading of skills and the promotion of Turkish Cypriots in specific sectors of employment in the Republic of Cyprus, hoping that such a development will create a win-win situation....

6. Foreign Direct Investment in Europe a game of two halves: current volatility impacts strategy while long-term appeal instills confidence

Europe’s attractiveness for FDI has shown signs of recovery following the COVID-19 pandemic with a 5% increase in the number of projects announced in 2021 compared to 2020, according to the latest annual EY European Attractiveness Survey....

7. EC: Actions in Varosha a step in the wrong direction

Both Turkey and the Turkish Cypriot leadership are fully aware of the position of the European Union on Varosha, Commission spokesperson Stefan De Keersmaecker told the Cyprus News Agency, responding to a question on the opening of more parts of the beach of the fenced-off area, which he said was a step in the wrong direction....

8. Petrides: 'Things will be difficult in the coming years'

The government will continue supporting households, especially the vulnerable, amid rising inflation, Finance Minister Constantinos Petrides said, warning that tackling inflation is difficult due to its structural nature amid the Ukrainian crisis....

9. How meritocracy reinforces inequality

We normally have unexamined certainties to guide us through daily life. But few people are so gifted at shaking those certainties than Michael Sandel....

10. 'The Cypriot economy must be diversified'

An International Monetary Fund (IMF) mission met virtually with the Cypriot authorities on March 11–28, 2022 to discuss recent economic developments and policy priorities....

11. Cyprus growth expected to ‘slow sharply’

Economic growth in Cyprus will slow sharply before recovering, due to the shock associated with the war in Ukraine, the International Monetary Fund has said, adding that the key near-term challenge “is to calibrate a policy response to the economic fallout from the war in Ukraine.”...

12. Parliamentary Committee report on state budget 2022 sees significant uncertainties due to pandemic

A report by the Parliamentary Committee of Financial and Budgetary Affairs on the State Budget for 2022 ahead of the plenary debate and vote this week, stresses the significant uncertainties affecting the projections upon which the budget is based....

13. Cyprus awaits endorsement during Ursula visit

European Commission President Ursula von der Leyen flies to Cyprus Wednesday on a two day visit to deliver notes on the government’s recovery and resilience plan submitted two months ago...

14. 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'...

15. Cyprus unveils 'ambitious' stimulus plan

Cypriot President Nicos Anastasiades has called on the new parliament after elections as well as industry leaders to support an ambitious €4.4 billion economic stimulus plan, saying it will lead the country into a new era...

16. Minister warns House over crucial EU money

Cypriot Finance Minister Constantinos Petrides is calling on Parliament to approve structural reforms that come as a condition to the disbursement of over €1 billion from the EU’s Recovery and Resilience Fund...

17. Coordination for green digital transition needed, Kokkinos says

Deputy Minister of Research, Innovation and Digital Policy, Kyriakos Kokkinos stressed the need to coordinate actions and investments at national and European level to achieve the EU's goals "for a sustainable, digital and green transition, empowering businesses with an emphasis on the SME and start-up ecosystem, and ensuring EU technological dominance", during his intervention at the informal teleconference of the Competitiveness Council for Research, under the Portuguese Presidency....

18. Cyprus unveils plan to tackle corruption

Cyprus’ fight against corruption is based on three pillars, President Anastasiades said Friday, announcing the eagerly-awaited steps the government will take in a bid to restore credibility to the Republic after its reputation was shattered by revelations of corruption through the nixed Citizenship-by-Investment Program (CIP)....

19. FinMin confirms Cyprus won’t reinstate ‘golden passports’ scheme

Finance minister Constantinos Petrides assured that the government will not be reinstating the Cyprus Investment Program (CIP), that was shut down after the shocking corruption revelations that emerged through an Al Jazeera investigation and the subsequent stark criticism by the European Commission. ...

20. Bar set low as Brussels, UN in low spirits for CyProb involvement

Foreign players ranging from Brussels and Berlin to New York have lowered their expectations and show a reduced eagerness to actively get involved in efforts to reach a solution to the Cyprus Problem....

21. Cyprus Econ Council begins work on future sustainable growth blueprint

The Cyprus Economy and Competitiveness Council (CECC) has announced the start of a project aiming to draft a blueprint on Cyprus’ future long term sustainable economic growth....

22. Cyprus to start process for early repayment of IMF loan, Finance Minister announces

Finance Minister Harris Georgiades announced on Tuesday that an official process will be launched for the early and full repayment of an IMF loan, following the repayment of a loan from Russia....

23. 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...

24. IMF: Cyprus economic recovery gradually decelerating but remains strong

25. Old Greece is waiting around the corner

26. President reiterates commitment to high economic growth

27. IMF warns of 'increasing headwinds to sustained growth'

28. Parsimonious northerners are the euro's biggest winners, study shows

Germany and the Netherlands have benefited enormously from the euro over the 20 years since its launch, a study has found, while for almost every other member the single currency has been a serious drag on economic growth....

29. Difficult decisions brought about positive results in the economy, President says

30. Hellenic Bank’s Economic Review