The Cypriot economy will shrink by 6.5% of GDP in 2020, amid the coronavirus pandemic followed by a sharp but not equal recovery in 2021, the International Monetary Fund (IMF) said in its April 2020...
Finance Minister Constantinos Petrides called for unity on the domestic front, for the sake of the economy, noting that the situation is difficult, and resources are not infinite.He was speaking on...
13/04/2020
Minister of Finance Constantinos Petrides welcomed a ruling by the Cyprus Supreme Court which upheld the government’s decision to impose salary and pension cuts in the public sector during the 2013...
10/04/2020
The recent issue of bonds by the Republic was solely intended to offset the reversal of the fiscal balance and to decisively strengthen the precautionary reserve of the state, because of the...
10/04/2020
Minister of Finance Constantinos Petrides called on the parliamentary parties to approve a bill providing for the provision of government guarantees to corporations and small businesses hit by the...
09/04/2020
The Republic of Cyprus has priced on Tuesday two new benchmark-sized Euro Medium Term Notes for a total amount of €1.75 bn with Finance Minister Constantinos Petrides expressing satisfaction.An...
08/04/2020
Cyprus Finance Ministry Public Debt Management Office has said that the budget balance of the Government is projected to reach a deficit of about 4% of GDP in 2020, stemming from the impact of the...
07/04/2020
Cyprus announced its intention to proceed with the issuance of 7-year and a 30-year euro-denominated bonds in a bid to strengthen its cash reserves amid the crisis caused by the coronavirus pandemic....
07/04/2020
Fitch rating agency has changed the outlook for Cyprus to stable from positive, citing the impact of the coronavirus pandemic on the Cypriot economy and on Cyprus’s fiscal position.In a rating action...
06/04/2020
Cyprus Finance Ministry Permanent Secretary called on Ministries to slash public spending this year ahead a pending budget overhaul due to the crisis caused by the coronavirus pandemic and the...
02/04/2020