CNA NEWS – CNA – Maria Antouna – Nicosia 08/02/2018 12:34

Anastasaides’ re-election reduces uncertainty over economic policies, DBRS says

The re-election of President Nicos Anastasiades for a second term in office reduces uncertainty over the direction of economic policies in Cyprus, rating agency DBRS has said.In a press release, DBRS said the latest election result gives President Anastasiades a solid mandate for a second consecutive term, adding the recovery of the economy under his first term seemed to have driven votes in his favour.

House Speaker to pay working visit to Athens

President of the House of Representatives Demetris Syllouris will begin on Thursday a working visit in Athens in the framework of the implementation of the Protocol of Cooperation between the Parliaments of Cyprus and Greece regarding the access to the Cyprus File. According to a press release by the House of Representatives, Syllouris will hold a meeting with his counterpart, Nikolaos Voutsis and Foreign Minister Nikos Kotzias.. He will also be received by the President of the Hellenic Republic Prokopis Pavlopoulos.

Cuba defends right of Cypriots to have a nation without external interference

Cuba will continue to defend the right of Cypriots to have a nation that promotes values of coexistence, integration and work to achieve a future of peace, without external interference and with full respect for their sovereignty and territorial integrity, new Cuban Ambassador to Cyprus Omar Leyva Rafull has said.

EU Commission forecasts strong growth momentum in Cyprus for the next two years

Growth in Cyprus for 2017 will peak at 3.8% and will continue expanding at 3.2% and 2.8% for 2018 and 2019, according to the European Commission (EC), making Cyprus “one of the fastest growing economies in the euro area,” while wages, employment and consumption will continue to expand, even if export and tourism may slow down due to capacity constraints.

Restructured loans continue downward path

Loan restructuring in the Cypriot banking system in October 2017 declined to a new low since December 2015, according to data released today by the Central Bank of Cyprus (CBC). Restructured facilities declined to Euros 12,3 billion in October 2017, marking a marginal reduction of Euros 73 million compared with September. According to the CBC figures, the balance of restructured facilities has been declining since August 2016.

Use of payment cards records annual increase in January

The usage of local bank cards in Cyprus increased by 9% in January this year, compared to the same month last year, reaching Euros 227.1 mn, according to JCC. The card processing company said on Wednesday that the usage of local bank cards for purchases and cash withdrawals abroad recorded an annual increase of 13% in the first month of the year to Euros 141.8 mn.

Greece’s economy is growing again for the first time in three consecutive quarters, EU Commission says

Greece’s economy is growing again with real GDP expected to have reached 1.6% in 2017, according to the winter interim economic forecast, published by the European Commission today in Brussels. According to the Greek chapter of the report “the recovery is expected to strengthen in the coming years, providing further support for employment growth. Sustained commitment to structural reforms remains vital to the continued expansion.”

Source: Cyprus News Agency