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Cyprus economy

European Commission: Economic Growth in Cyprus has Exceeded Expectations

Projections of Cyprus's economic growth have been revised sharply upwards, both by European institutions and local analysts, according to documents released on Thursday. The European Commission Autumn forecast said on Thursday that growth in 2017 is forecast to reach 3.5...

Technocrats Begin Cyprus Third Economic Review

Fiscal issues, structural reforms and Non-Performing Loans (NPLs) are the focus of the third post memorandum review of the Cyprus economy, which began on Monday. Emphasis will be placed on the NPLs, which account for 46% of the total loan...

Cyprus Economy Gathers Momentum

The Cyprus economy expanded by 3.3% year on year on seasonally adjusted data, marking the highest quarterly growth since the financial crisis of 2013, according to a flash estimate released today by Cystat, Cyprus’ statistical service. Cyprus has been posting...

Cyprus FinMin Says Online Betting Will Create New Prospects for the Economy

The regulation of online betting along with the other measures promoted concerning the betting industry will create a new significant prospect for the economy, Minister of Finance Harris Georgiades has said, as the Cyprus National Betting Authority gears up...

Cypriot President Anastasiades: 'Economy Registers Growth; Restructuring of NPLs Remains the Biggest Challenge'

The Cyprus economy has exited recession and is registering positive economic growth, which is projected to be maintained, President of the Republic of Cyprus Nicos Anastasiades has said. He noted, however, that the banking sector still has challenges to...

Cyprus Receives Improved Growth Forecast by the European Commission

The European Commission upgraded its forecasts for the growth of Cyprus' economy to 1.2% in 2015, in its Autumn forecast, while the Cypriot Ministry of Finance predicts that 2015 will end with a growth rate of 1.5%. Specifically, the European...

S&P Upgrades Cyprus After Capital Control Removal

Rating agency Standard & Poor's has upgraded its assessment of Cyprus to BB-, citing removal of capital controls and strong budgetary performance. “In April 2015, Cyprus further strengthened its financial stability by removing capital controls without disruption in deposit flows....

British Defence Secretary Discusses Regional Issues with Anastasiades

The situation in Iraq, the Cyprus solution, the economic crisis and bilateral issues were on the agenda of a meeting Cyprus President Nicos Anastasiades had on Saturday with British Defence Secretary Michael Fallon. The meeting lasted a little less than...