News

Start of construction works for the Pafos-Polis Chrysochous highway

01.07.2022 The start of construction work on the Paphos-Polis-Chrysochous motorway was welcomed by the President of the Republic, Nikos Anastasiadis, in a Twitter post. The President described the motorway under..

Total deposits in the Cypriot banking system declined in May

01.07.2022 According to a report released by the Central Bank of Cyprus (CBC) this week, total deposits in the Cypriot banking system declined in May, but still almost double the..

Average gross monthly earnings increase

01.07.2022 According to a report published this week by the Statistical Office of Cyprus (Cystat), the average gross monthly earnings of employees in the first quarter of 2022 was 2019..

Cyprus property values and numbers growing

01.07.2022 The Cyprus property market is growing and becoming more expensive as the number of properties increase by 1.5% and their total value increased by 2.2% based on January 2021..

EU blocks ‘generous’ mortgage-to-rent scheme

01.07.2022 Brussels has told Cyprus to "hold their horses" over a new attempt to throw another lifeline, a mortgage-to-rent scheme, to poor borrowers to help them keep their homes and..

Paphos: The intelligent management of parking spaces is in operation

01.07.2022 The Municipality of Paphos is taking another important step towards achieving its strategic goal of making Paphos a smart and digital city by launching a smart parking management system..

Nouris: Cyprus has “modern and improved” legislative framework for local administration

31.06.2022 After more than a decade of efforts, we have succeeded in creating a new, modern and improved legal framework for local government, Interior Minister Nikos Nouris said at an..

Equity fund, a significant milestone in the efforts to enhance alternative financing

31.06.2022 Finance Minister Konstantinos Petrides has long sought to introduce a financial instrument to support start-ups and innovative companies with equity financing, adding that the agreement with the European Investment..

Government records surplus of 1% of GDP in Q1 2022

31.06.2022 The preliminary results of the general government budget prepared by the Statistical Office of Cyprus (CyStat) indicate a surplus of 1% of GDP, which is 239.3 million euros, for..

Registered unemployed drop annually by 63.8% in April 2022

31.06.2022 According to data released by the Statistical Office of Cyprus on Wednesday, the number of unemployed people registered with the district labor offices on the last day of April..

Poyiatzis: Reversing climate of distrust a “big challenge”

31.06.2022 "It's a big challenge" to deal with the prevailing climate of distrust in institutions in society, newly appointed transparency commissioner Haris Poyatzis told CNA Wednesday. “This is a great..

EP approves report on application of provisions in the area of Schengen Information System in Cyprus

31.06.2022 The European Parliament approved on Tuesday the report of MEP Peter Kofod on the application of the provisions of the Schengen legislation in the field of the Schengen Information..

Premier of Luxembourg to pay Cyprus an official visit

31.06.2022 Prime Minister of Luxembourg Xavier Bettel will pay an official visit to Cyprus. The agenda of the talks included Ukraine, energy, the migration crisis and the Cyprus issue. Anastasiades'..

Fiscal Council approved Stability Program forecasts, warns of delays

31.06.2022 The Financial Council of Cyprus has announced that it has unanimously approved the Stability Program estimates and projections, which will shortly be submitted to the Commission. However, he warns..

UCY’s ERC slashes Cyprus’ growth outlook

31.06.2022 The Economic Research Center of the University of Cyprus (ERC) lowered its forecast for growth in Cyprus in 2022 due to the consequences of the Russian invasion of Ukraine,..

Cyprus also affected by energy prices despite not using natural gas

31.06.2022 The energy ministers of the EU countries discussed the energy situation in the EU as a result of the Russian invasion of Ukraine and further steps after the suspension..

Government will continue to support vulnerable groups against rising inflation

31.06.2022 The government intends to continue its support to vulnerable populations in the face of rising inflationary trends, said Finance Minister Konstantinos Petrides, speaking on the sidelines of the presentation..

Cyprus and the EU economies facing a “twin problem” following the war in Ukraine

31.06.2022 The EU and Cypriot economies are facing a "double challenge" of rising commodity and energy prices and increased uncertainty following Russia's invasion of Ukraine, according to a conference held..

Debt ratio decreases 30% for households and 57% for non-financial corporations

31.06.2022 Liabilities as a percentage of gross domestic product (debt ratio) for households have fallen by almost 30% and for non-financial corporations by 57% over the past five years, the..

Fiscal accounts generate surplus of €38 million in Q4 2021

31.06.2022 Cyprus fiscal accounts in the last quarter of 2021 showed a positive balance of 37.7 million euros compared to a deficit of 648 million euros for the corresponding period..

Cyprus property values growing

30.06.2022 The Cyprus property market is growing but rising in price as the number of properties increases by 1.5% and their total value increased by 2.2% based on January 2021..

Industrial output prices up 22%

30.06.2022 The Industrial Price Index for May 2022 reached 130.4 units (2015 base = 100), recording an increase of 22% compared to the corresponding month of the previous year, according..

Land Registry: 1,660,048 properties worth €186 billion

30.06.2022 A new total estimate of 1,660,048 properties in government-controlled areas of the republic, based on prices as of January 1, 2021, was released on Thursday by the Department of..

Right of tenant to file a reply

29.06.2022 A tenant's right to access a rent control court when rent arrears and possession of the rented space are brought can be reviewed by the court. The tenant shall..

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