‘Most important thing is reduction of NPLs’
The most important thing for the real economy is to reduce non-performing loans as they have in the banking sector so the economy can function without obstacles, Finance Minister Makis ...
Finance minister initiates study on state payroll reduction
Finance Minister Makis Keravnos emphasized on Friday that initial steps have been taken to appoint experts for a study on the state payroll, with further updates expected after the holidays.
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Minister hails agreement for low-wage civil servants
Finance Minister Makis Keravnos on Tuesday hailed an agreement reached between the government and trade unions regarding low-wage civil servants’ pay as “a positive outcome for everyone.”
He added that “...
Government may reintroduce electricity and fuel subsidies, says finance minister
Amid mounting complaints over the cost of living, the government on Thursday said it may bring back electricity and fuel tax subsidies in the near future.
Speaking to public broadcaster ...
Cyprus secures EIB loan of €369 million
Cyprus has received a loan of over €350 million from the European Investment Bank (EIB) to boost social cohesion, Finance Minister Makis Keravnos said on Wednesday.
The loan of €369 million is ...
Finance minister meets banks over interest rates
Finance Minister Makis Keravnos on Tuesday met the bosses of commercial banks in a crunch meeting aimed at getting lenders to provide some relief to customers to compensate for rising ...
Flurry of activity over foreclosures on Monday
Finance Minister Makis Keravnos will present to legislators on Monday a government package of seven proposals to address the issue of foreclosures.
The package was submitted on Thursday in a ...
Our View: Change of economic tune is necessary
It was encouraging to hear Finance Minister Makis Keravnos defending the government’s decision to end the subsidy of all electricity bills and the reduction of the consumer tax on ...
Finance minister, unions insist on need for more civil servants (updated)
Finance Minister Makis Keravnos and trade unions reiterated on Wednesday the need to hire more civil servants after the House finance committee this week refused to approve over 1,800 positions.
The ...
Cypriot economy strong despite challenges, finance minister says
Despite the global uncertainty, the Cypriot economy is continuing a positive course in 2023, Finance Minister Makis Keravnos said.
Speaking at the forum of the Cyprus association of financial analysts (CFA) ...
Our View: Shopping basket app could help consumers
Two government measures for helping people cope with inflation are in the pipeline – reduction of VAT on basic consumer goods and the creation of a shopping basket app that will ...
Our View: Higher deposit rates, lower loan rates are a fantasy
Finance Minister Makis Keravnos wrote to associations representing the banks and loan-purchasing companies asking them to absorb part of the cost from the rise in interest rates so that loan ...
Electricity subsidies extended
Subsidies for electricity bills have been extended for another two months on Wednesday, at a cost of €21 million, according to a relevant cabinet decision.
Cabinet also approved a new two-month ...
Bad loans in Cyprus will not increase, finance minister assures
There are no concerns over an increase in bad loans for Cyprus’ banks, Finance Minister Makis Keravnos said on Thursday after a meeting with the European Central Bank’s executive ...
Tight timetables for implementation of Recovery plans a challenge, Finance Minister tells Ecofin
The tight timetables regarding the implementation of Recovery and Resilience Plans were described as a challenge by Finance Minister Makis Keravnos during the Economic and Financial Affairs Council of the ...