Friday, May 27 2022
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Cyprus

Cyprus FinMin warns of troubles ahead

The Cypriot government will continue supporting households, especially the vulnerable, amid rising inflation, the island’s Finance Minister Constantinos Petrides said, warning that tackling inflation is difficult due to its structural nature amid the Ukrainian crisis.

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Cyprus growth at 8.4% last year

Cyprus’ gross domestic product at current prices for the year 2021 has been updated due to revised public finance and balance of payments data and is estimated at 23.437 billion euros, the Cyprus Statistical Service (CyStat) announced on Thursday.

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Primary budget surplus for Cyprus in 2024

Cyprus is expected to return to fiscal surpluses by 2024 while public debt will return to a downward trajectory, following the spike in 2020 during the Covid-19 pandemic, the International Monetary Fund said in its Fiscal Monitor issued on Wednesday.

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Eni-Total to resume work off Cyprus

The Eni-Total consortium will resume work on Block 6 within Cyprus’ exclusive economic zone. The Franco-Italian consortium will initially carry out drilling at a specific point in Block 6 to have a better picture of the Calypso deposit.

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