28.09.2022
According to a report released on Tuesday by the Central Bank of Cyprus (CBC), August 2022 saw a net increase in total deposits of €173.7 million and a net decrease in total loans of €100 million.
Total deposits in August recorded a net increase of 173.7 million euros compared to a net decrease of 183.9 million euros in July.
The annual rate of change was 0.6% compared to 1.3% in July. The balance of deposits in August reached 51.5 billion euros.
Conversely, total loans in August recorded a net decrease of €100m compared to a net decrease of €162.7m in July.
The annual rate of change was 2% compared to 1.9% in July. The balance of general loans in August reached 28.5 billion euros.
Minister of Energy, Trade and Industry Natasa Pilides confirmed this week that the Cypriot government is committed to accelerating the modernization, competitiveness and extroversion of businesses, for which it plans to use more than 585 million euros raised from both national funds of the European Union.
Comments by Pilides during an event organized by the Federation of Employers and Industrialists (Oev).
At the same time, the minister noted that a significant part of these funds is provided in the form of incentives, both for business and industrial enterprises, encouraging them to start implementing the necessary investments in a number of areas, including new technologies, digital infrastructure, as well as the practice of a green economy and a circular economy. cycle.
In addition, Pilides said that in recent years the ministry has made a major effort to improve its schemes, allowing it to better respond to the needs of Cypriot businesses.
Among the schemes Pilides mentioned were the €130 million worth of subsidy schemes that were launched in 2021, as well as a scheme that will be given to businesses this year, with a total budget of over €200 million.
Pilides noted that these schemes include two enterprise energy efficiency subsidy schemes with a total budget of 40 million euros.
The scheme is currently open for applications, along with a digital renewal scheme to be launched shortly, with a total budget of €10 million.
The Cyprus Stock Exchange (CSE) ended Tuesday, September 27 with significant losses.
The overall Cypriot stock market index stood at 74.20 points at 13:42 during the day, reflecting a 3.02% drop from the previous trading day.
The FTSE/CySE 20 Index stood at 44.51 points, down 3.05%.
The total transaction value was 104,969 euros.
As for the sub-indices, the main, alternative and investment indexes of companies decreased by 3.73%, 0.17% and 3.53% respectively. The hotel index remained stable.
Bank of Cyprus (-8.2%), Hellenic Bank (-1.03%), Cyprus Cement Company (+1.79%), Pandora (-9.72%) and Petrolina (no change) attracted the highest investment interest .
