Day: March 3, 2022

The European Commission has approved a €5.7 million Cypriot scheme to support certain farmers active in the livestock sector affected by the coronavirus pandemic and the restrictive measures that the Cypriot government had to implement to limit the spread of the virus, according to a statement by the Commission.

The scheme, which will take the form of direct grants, will be open to pig, poultry, cow and rabbit farmers. The aim of the scheme is to help beneficiaries address their liquidity needs.

The Commission found that the Cypriot scheme is in line with the conditions of the Temporary Framework, since the aid will not exceed 290 thousand euros per beneficiary and will be granted no later than 30 June 2022.

The Commission concluded that the measure is necessary, appropriate and proportionate to remedy a serious disturbance in the economy of a Member State, in line with Article 107(3)(b) TFEU and the conditions set out in the Temporary Framework.

Source: Cyprus News Agency

A ministerial conference on the 30th anniversary of the creation of the Natura 2000 network of the EU held on 24-25 February in Strasbourg adopting a Declaration on the sustainable management of the netwok and the protection of biodiversity.

Cyprus was represented by Ministry of Agriculture’s Permanent Secretary Andreas Gregoriou and senior environmental Officer of the Environment Department Elena Stylianopoulou.

The meeting reviewed the achievements of the past 30 years, such as the increased protection of species and habitats, as well as the network’s contribution to biodiversity protection.

In his intervention, Gregoriou stressed “that there are still challenges that need to be addressed in order to implement changes on a larger scale to protect habitats and biodiversity”, referring in particular to the LIFE IP PHYSIS Programme, which for the last 10 years “has been supporting efforts in Cyprus to address challenges related to the involvement of local communities, the management of private land in Network areas, the improvement of the quality of biodiversity and the protection of biodiversity.”

Gregoriou also referred to the important contribution that the implementation of the Habitats and Birds Directives has made to the protection of biodiversity in Cyprus.

At the end of the meeting, the participants unanimously approved the Strasbourg Declaration regarding the sustainable management of the Natura 2000 network and the protection of biodiversity.

In this declaration, the EU’s environment ministers committed themselves to the protection of biodiversity, underlining the Natura 2000 network’s potential to make an effective contribution to improving the conservation status of species and habitats.

In addition, it was noted that the LIFE programme will continue to contribute funding to the management of the Natura 2000 network. The declaration also recognises the need for immediate action to achieve the objectives of the EU`s 2030 biodiversity strategy in all sectors, taking into account the impact of climate change.

Source: Cyprus News Agency

The interest rate on deposits from households with an agreed maturity of up to one year remained unchanged at 0.06%, compared to December 2021, according to Cyprus Central Bank. At the same time, the interest for housing loans has slightly decreased to 2.15%, from 2.21% on December.

More specifically, the interest rate on deposits from households with an agreed maturity of up to one year remained unchanged at 0.06%, compared with the previous month, while the corresponding interest rate on deposits from non-financial corporations recorded an increase to 0.12%, compared with 0.02% in the previous month.

For lending rates, the interest rate on consumer credit rose to 3.10%, compared with 2.90% in the previous month, while the interest rate on loans for house purchase decreased to 2.15%, compared with 2.21% in December.

The interest rate on loans to non-financial corporations for amounts up to €1 million fell to 3.21%, compared with 3.25% in the previous month, but for amounts over €1 million it registered an increase to 2.86%, compared with 2.84% in the previous month.

There was a big decrease recorded to new loans in January, since they fell to €289.3 million in January 2022, compared with €643.7 million in the previous month.

New loans for consumption registered a decline to €11.7 million, compared with €13,3 million, while new loans for house purchase decreased to €104.6 million, compared with €152.9 million in December.

New loans to non-financial corporations for amounts up to €1 million fell to €34.4 million, compared with €76.4 million in the previous month, while the ones for amounts over €1 million recorded a decrease to €128.9 million, compared with €381,4 million in the previous month.

The total amount of deposits for all currencies decreased in January 2022 to €51.3 bln, compared with €51.5 bln in December. The €30.11 bln of these are household deposits.

These statistics are included in the February 2022 edition of Monetary and Financial Statistics.

Source: Cyprus News Agency

Prices in petroleum products, electricity and fruits and vegetables have driven inflation up in February by 6.6%, according to data published by Cyprus Statistical Service.

In February 2022, the Consumer Price Index increased by 1.27 units and reached 105.84 units compared to 104.57 units in January 2022.

For the period January-February 2022, the CPI increased by 6.0% compared to the corresponding period of the previous year.

As regards the economic origin, the largest changes when compared to the index of February 2021 were recorded in Petroleum Products (28.4%), in Electricity (22.4%) and in Agricultural Goods (17.5%). In comparison to the index of the previous month, the largest change was monitored in Agricultural Goods (9.6%).

Compared to February 2021, the largest changes were monitored in the categories Transport (14.8%) and Housing, Water, Electricity, Gas and Other Fuels (13.3%).

In comparison to the CPI of the previous month, the largest change was noted in Food and non-Alcoholic Beverages (4.7%).

For the period January–February 2022, compared to the corresponding period of the previous year, the largest changes were recorded in Transport (14.1%) and Housing, Water, Electricity, Gas and Other Fuels (13.7%).

Compared to the Index of February 2021, the categories Transport (2.15), Housing, Water, Electricity, Gas and Other Fuels (1.58) and Food and non-Alcoholic Beverages (1.53) had the largest effect on the change of the CPI.

The category Food and non-Alcoholic Beverages (0.92) had the largest effect on the change of the CPI compared to the previous month.

Petroleum Products (2.11), Fresh Vegetables (0.89) and Electricity (0.73) had the most notable effect on the change of the CPI of February 2022 compared to February 2021.

Finally, Fresh Vegetables (0.65) and Petroleum Products (0.49) had the largest positive effect on the change of the CPI of February 2022 compared to the previous month.

Source: Cyprus News Agency

Cyprus Finance Minister Constantinos Petrides announced on Thursday an increase in the number of Digital Nomad Visa beneficiaries from 100 to 500 following a Cabinet meeting, at the Presidential Palace.

Petrides said that this decision is part of the governmental plan, which was approved by the Cabinet in October 2021, in order to approach companies that intend to operate and expand their activities in Cyprus

Cyprus Digital Nomad Visa aims at attracting citizens from third countries outside the European Economic Area and allows them to stay in Cyprus on condition that their work will be provided through information technologies for companies or customers who live abroad, he stated.

The aim of this plan, he added, aims at the reinforcement of Cyprus as an e-services provider, the development of the business ecosystem and the economic growth of the country.

Due to the interest of beneficiaries that proved “much greater than expected”, the Cabinet decided to increase the number of Digital Nomad Visa beneficiaries from 100 to 500, he concluded.

Source: Cyprus News Agency

The officially registered unemployed persons reached 15,364 in February, according to data from the District Labour Offices.

Based on the seasonally adjusted data that show the trend of unemployment, the number of registered unemployed for February 2022 increased to 14,087 persons in comparison to 13,883 in the previous month, the Statistical Service announced on Thursday.

In comparison with February 2021, a decrease of 17,425 persons or 53.1% was recorded, attributed mainly to the sectors of trade (a decrease of 3,699), accommodation and food service activities (a decrease of 3,067), construction (a decrease of 1,233), manufacturing (a decrease of 1,205), professional, scientific and technical activities (a decrease of 886), transportation and storage (a decrease of 880), as well as to the decrease of 1,518 persons recorded as newcomers in the labour market.

Source: Cyprus News Agency

Cyprus Finance Minister Constantinos Petrides announced on Thursday a reduction in fuel tax following a Cabinet meeting, at the Presidential Palace.

“The Cabinet decided to reduce fuel tax at the maximum levels allowed by the European acquis and extend the period of implementing a reduced VAT by 5% and 9% in power consumption”, said Petrides.

Petrol and oil tax will be reduced by 7 cents per litre, reaching 8.3 cents per litre (VAT included) and the heating oil tax will be reduced by 6.4 cents per litre (VAT included), he added.

This way, Cyprus becomes the EU member state with the lowest tax rates, said the Finance Minister, adding that these decisions require a vote at the House of Representatives later today.

Furthermore, Petrides stated that the fiscal cost of these proposals approved by the Cabinet are estimated at an additional 40 million euros while there are other energy saving programmes available, for households and vulnerable groups of the population, worth 150 mln euros.

The government has proven that we will readjust our policies whenever this is possible in order to help society, as well as the economy, the Minister concluded.

Source: Cyprus News Agency

Cyprus Foreign Minister Ioannis Kasoulides travels to Brussels on Thursday to participate in an extraordinary Foreign Affairs Council on Ukraine to take place Friday.

EU FMs will discuss the developments in Ukraine following the sanctions imposed on Russia by the EU and will coordinate their actions.

Ministers will also discuss the efforts to de-escalate the crisis and to protect civilians.

EU Ministers will exchange views with NATO Secretary General Jens Stoltenberg, US State Secretary Antony Blinken and FMs of UK and Canada, Elizabeth Truss and Mélanie Joly, respectively. This exchange of views takes place in the framework of EU`s coordination with its strategic allies. Ukrainian FM Dmytro Kuleba will attend as well via teleconference.

Kasoulides returns home Saturday.

Source: Cyprus News Agency

Developments in Ukraine were discussed on Thursday evening, during a session of the National Council, at the Presidential Palace, chaired by the President of Cyprus Nicos Anastasiades. Members of the top advisory body to the President on the Cyprus issue were also informed on a proposal put forward by the President on Confidence Building Measures.

In statements after the National Council, Government Spokesman Marios Pelekanos said that the session took place in a spirit of unity. Members discussed developments following Russia’s invasion in Ukraine, concerning both the political aspect and possible geopolitical developments, as well as the economic aspect and the expected impact on the Cypriot economy, he added.

Pelekanos went on to say that the President informed political leaders on the proposals of the Greek Cypriot side on Confidence Building Measures, as well as about his contacts and those of the Foreign Minister Ioannis Kasoulides in a bid to promote these proposals.

“Apart from the mutual benefits for the two sides, the aim of these proposals remains to create the conditions for the resumption of the negotiations process aiming at a Cyprus settlement on the basis of UN Security Council resolutions,” the Spokesman noted.

He said moreover that during the session, political leaders expressed opinions, reservations and submitted their suggestions.

The government will continue to monitor closely developments on the issue of Ukraine, in order to properly evaluate it and take timely preventive or other measures deemed necessary, Pelekanos concluded.

Cyprus has been divided since 1974, when Turkey invaded and occupied its northern third. Repeated rounds of UN-led peace talks have so far failed to yield results.

In his last report to the Security Council, on his mission of good offices in Cyprus, Secretary-General Antonio Guterres urged, among other things, the Greek Cypriot and Turkish Cypriot leaders to work together on confidence-building measures, noting that mechanisms of dialogue and rapprochement, such as these “are of particular importance and can, in the absence of fully-fledged negotiations rekindle hope among the population that progress between the parties can indeed still be made.”

Source: Cyprus News Agency

The situation in Ukraine and the FRONTEX Operational Action Plan in Cyprus are the main topics on the agenda of Interior Minister Nikos Nouris, who will participate on Friday 4 March in the Informal Council of EU Home Affairs Ministers in Brussels.

The informal meeting of European Ministers will focus on the current situation in Ukraine, as well as the provision of humanitarian aid, both to Ukrainian refugees and to neighbouring member states currently receiving the largest number of refugees, an Interior Ministry press release says.

It is also noted that in the framework of the Council, the Minister of Interior will co-sign with FRONTEX Executive Director Fabrice Leggeri the Operational Action Plan, which the two sides agreed on during the recent visit of the latter to Cyprus.

The action plan includes, among other things, strengthening the Agency`s support to the Republic of Cyprus through the secondment of additional experts in the field of returns and verification of third country nationals, the operation of regular repatriation flights with full cost absorption by FRONTEX, as well as technical support for the upgrade or development of migration management and return systems.

Nouris will also meet with his Belgian counterpart to coordinate the two countries’ actions in the framework of their cooperation to conduct joint operations for the return of Congolese nationals, the press release concludes.

Source: Cyprus News Agency