Standard & Poors Credit Rating Agency downgraded on Wednesday the local currency sovereign credit ratings on the Republic of Cyprus from AA-/A-1+ to A+/A-1. “The downgrading of the local...
The “Technical Committee” of the Finance Ministry has already prepared the package of measures aiming at the increase in state revenues and the decline in public spending. StockWatch sources reveal...
07/08/2003
A new software system, presented today to the House Finance Committee for consideration, will simplify bureaucratic procedures, increase productivity and curb overspending in the public sector. 'The...
21/07/2003
Finance Minister, Marcos Kyprianou said that the new system on the State Budget will be presented before the Cyprus President and the Council of Ministers, speaking at a press conference on Friday....
18/07/2003
The amendments in the economic philosophy put forward by the Finance Ministry through the Euro-Budget 2004, have already reached the final stage, sources told StockWatch on Friday. The Ministries...
18/07/2003
CB Governor, Christodoulos Christodoulou said on Friday that the decline in unproductive expenditure, the increase in revenues and an ambitious development process will enable the Cyprus economy to...
11/07/2003
The Monetary Policy Committee of the Central Bank of Cyprus is considering leaving the key official interest rates, Lombard and Overnight Deposit Facility, unchanged at 4.5% and 2.5% respectively...
11/07/2003
Chairman of the Council of Experts, Alexis Galanos, reiterated on Monday that there is a need to take “tough decisions” to confront the problems of the Cyprus economy. Responding on the question...
07/07/2003
Despite the fact that the Finance Minister, Marcos Kyprianou, refused to comment on the freezing of the state payroll proposed by the Council of Experts recently, the mention of the trade unions in...
07/07/2003
The imposition of new taxes to the Cyprus citizens in an attempt to give solutions to the problems encountered by the island’s economy, would be a serious mistake and “a stab in the back” for the...
07/07/2003