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Kouklia Village                                                      Photo © CyprusExpat.co.uk

11 May 2017

1. Cyprus President: EBRD`s contribution to Cyprus` economic recovery significant

The European Bank for Reconstruction and Development (EBRD) has contributed significantly to the great effort to revive and reform the Cypriot economy, President Nicos Anastasiades stressed this morning, addressing the Bank`s annual meeting, taking place in Nicosia. Meanwhile, EBRD President Suma Chakrabarti said the EBRD still has a lot of work to do in Cyprus.

2. EBRD ready to finance Cyprus` natural gas reserves development and post reunification projects
EBRD President, Suma Chakrabarti, said that the Bank stands ready to finance the development of Cyprus` natural gas reserves and make post reunification investments should the ongoing talks between the Greek Cypriot and the Turkish Cypriot community succeed in reaching a solution to the Cyprus problem. On Wednesday, EBRD economists said the overall picture of the Cypriot economy is positive but risks and uncertainties still exist, while the high level of non-performing loans (NPLs) constitutes a problem. Gross Domestic Product growth in Cyprus will be 2.5 per cent in 2017 and 2.2 in 2018, according to the latest EBRD Regional Economic Prospects report, issued during the Bank’s Annual Meeting in Cyprus.

3. Anastasiades - Akinci to hold a meeting today, Eide calls for reduction of tension

The leaders of the two communities in Cyprus will hold a meeting this afternoon in the framework of the ongoing Cyprus talks aiming for the reunification of the island under a federal roof. Meanwhile, the UNSG’s Special Advisor for Cyprus Espen Barth Eide has said that we need to create an environment where the Cyprus leaders can go that final mile and called upon all parties to do their utmost to reduce any kind of tension that could make the talks more problematic.

4. Preparedness of Turkish Cypriot community with EU discussed between leaders and Verwey

A meeting took place on Wednesday in Nicosia between President of the Republic Nicos Anastasiades, Turkish Cypriot leader Mustafa Akinci and Maarten Verwey, Director General of the Structural Reform Support Service of the European Commission, in which there was a discussion about the findings of the ad hoc committee for the preparedness of the future, in case of a solution, Turkish Cypriot constituent state, with the EU acquis communautaire. Speaking after the meeting, Verwey said the European Commission will continue its support to the Cyprus settlement talks.

5. Cyprus to host the next tripartite meeting of the House Speakers of Israel-Cyprus-Greece

The importance of the parliamentary co-operation especially in view of the next meeting of the Presidents of the Parliaments of Israel-Cyprus-Greece, which will be hosted in Nicosia, next Fall, was highlighted during the works of the 2nd Tripartite Meeting of the Heads of Parliamentary Committees on Foreign Affairs held in Jerusalem on Monday.

6. Ministry of Foreign Affairs implements EU funded projects

The Ministry of Foreign Affairs, in the framework of harmonization and operation in accordance with the Schengen acquis, implemented, by 31 December 2016, two projects funded by the EU Internal Security Fund.

7. Cyprus and EBRD sign €2.2 million agreement to support SMEs

Cyprus and the European Bank of Reconstruction and Development (EBRD) signed Thursday a €2.2 million agreement to strengthen small and medium-sized enterprises (SMEs) and to increase their competitiveness and growth potential.

8. Total bad loans decline but percentage remains stable in January

The number of non performing loans recorded a drop in January this year compared to the last month of 2016, but remained the same as a percentage of total loans due to deleveraging, data released by the Central Bank of Cyprus on Wednesday show.

9. Government hourly paid temporary workers increase in April

The number of government employees increased in April by 2.3% compared to the previous month, data released on Wednesday by the Cyprus Statistical Service show, an increase mainly attributable to hiring extra hourly paid temporary workers.

10. Solid growth rate and a drop of debt expected according to EC Spring Economic Forecast for Cyprus

A sοlid growth rate of 2.5% and 2.3% of GDP in 2017 and 2018, a budgetary surplus of 0.2% and 0.7%, and a fall in unemployment to 11.7% and 10.6% respectively are included in Cyprus` spring economic forecasts, which the Commission has today made public in Brussels.

11. Trade deficit at €461.1 million in March, road transport up

Trade deficit stood at €461.1 million in March, provisional data published by the Cyprus Statistical Service on Wednesday show. Furthermore, national road transport recorded an increase of 36.7% in 2016 compared to the previous year.CNA

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