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61. 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....

62. 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. ...

63. AKEL's bold demand: Tax bank profits to power people's pockets

The AKEL political party is urging the government to take immediate action to alleviate the financial strain on Cypriot households by taxing banks' surplus profits and redirecting the funds towards fuel and electricity subsidies....

64. 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, ...

65. Concerns rise over emergency grain stocks

The Grain Advisory Committee is scheduled to convene this morning at 10 am at the Ministry of Agriculture, to engage in a discussion centered around the adequacy of grain supplies within the market. ...

66. GDP alert: Economic storm brewing?

Former Minister of Finance, Konstantinos Petrides, comments on the GDP results for the 2nd quarter with five observations....

67. Eurobank Cyprus reports soaring profits amid rising interest rates

Eurobank Cyprus posted soaring profitability after tax for the first half of 2023 with net profits approaching the profitability of full year 2022, due to rising interest rates and the high remuneration of its liquidity held at the ECB....

68. 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. ...

69. NPL crisis highlights tug of war between borrowers and legislation

The concealment, or "camouflage," of non-performing loans (NPLs) in commercial banks before 2013 and their subsequent explosion have been, and may continue to be, the most significant challenge for the Cypriot economy. ...

70. The top 20 professions that can land you a European work visa

An astonishing number of 400 different occupations have been classified as shortage occupations in at least one European Union or Schengen Area member state, while another 321 different professions have been listed as a surplus in at least one of these countries....

71. Cyprus approves €361M supplementary budget for 2023

With criticism against the government's agreement for the purchase of the Metropolitan building, which will house the Ministry of Labor and Social Insurance, the Plenary of the House of Representatives approved the supplementary state budget amounting to €361 million....

72. New cat feeders enhance stray welfare in Strovolos

Modern feeders for stray kittens found shelter along the Pedieos River have been installed in Linear Park Strovolos. ...

73. Excess renewable energy poses challenges for Cyprus

There is an excess production from renewable energy sources that could be extracted, stated the spokesperson of the Cyprus Transmission System Operator (TSO) to CNA....

74. Cyprus economy thrives: FinMin foresees robust growth and fiscal stability

During the 2023 Annual General Meeting of the Cyprus Bankers Association, the Minister of Finance, Mr. Makis Keravnos, discussed the current state and future prospects of the Cyprus economy, particularly focusing on the banking sector. ...

75. FinMin underlines the importance of disciplined policy

The contact circle with the banks has not been completed, and there will be a new one to adopt measures that will provide relief to borrowers regarding the increased interest rates....

76. 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...

77. Cyprus resolute on natural gas plans despite geopolitical reactions

Minister of Energy, George Papanastasiou, affirmed Cyprus' commitment to proceed with its plans for transporting natural gas from the region, both for domestic electricity generation and for liquefied natural gas (LNG) exports, despite geopolitical reactions....

78. Norway warns people to stay away to protect spy whale's well-being

People should 'avoid contact' with a famous beluga whale to avoid accidentally injuring or killing it, the Norwegian Directorate of Fisheries has said....

79. Central Bank governor projects higher economic growth for 2023

On Tuesday, Constantinos Herodotou, the Governor of the Central Bank of Cyprus, announced that the Cypriot economy is projected to grow in 2023 at a higher rate than the Eurozone average. ...

80. Fiscal surplus of €570.2 mn and 86.5% debt to GDP ratio in 2022

The Statistical Service announced on Friday a fiscal surplus of €570.2 mn, which corresponds to 2.1% of GDP and a fiscal debt of €23,371.1 mn, which corresponds to 86.5% of GDP....

81. 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....

82. Investors flock to 'green' bonds as a secure investment

83. Keravnos urges banks to restructure loans and keep rates low

Cyprus Finance Minister Makis Keravnos has urged banks to restructure loans, maintain low lending rates and bank charges, and increase deposit rates in light of continued basic rate hikes by Central Banks. He warned that otherwise the government "would make different thoughts."...

84. Government surplus of €609.5 million for 2022

General Government preliminary fiscal results published by the Statistical Service of Cyprus on Tuesday indicate a surplus of €609.5 mn, equal to 2.3% of GDP, for the period of January-December 2022, compared to a deficit of €402.8 mn or 1.7% of GDP, that was recorded during the period of January-December 2021....

85. February Newsletter of K. Treppides & Co Ltd: CySEC

A new issue is out from the newsletter by K. Treppides & Co Ltd, a leader in the field of auditing and accounting services with offices in three countries....

86. The new president and finance minister will face new challenges

We are only a few days away from voting for the new President of the Republic. ...

87. The red warning from the beaches of Protaras

First and foremost, let me state that I am not an environmental expert. As an active citizen, I am recording my concerns about the changes brought about by climate change...

88. The country's digitization and other stories

We heard a lot and very little during this election. Lots of one-liners, 'cockfighting', insults, and histrionics. Nothing was said regarding the substance. ...

89. €651.4 million of government surplus recorded until September 2022

Cyprus' general government surplus rose to 651.4 million for the period of July-September 2022 compared with a surplus of €319.5 mn recorded in the respective period of last year, according to preliminary general government fiscal results....

90. Cypriot parliament approves state budget

The House of Representatives plenary approved the 2023 state budget on Thursday evening, the last to be tabled by the 10-year administration of Nicos Anastasiades...