COVID19: Cyprus economy enters recovery mode

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COVID19: Cyprus economy enters recovery mode
 © FinancialMirror 2020
Green shoots of recovery are emerging post-COVID-19 lockdown as the economy begins to breathe again, said Finance Minister Constantinos Petrides.

Cyprus President Nicos Anastasiades and Petrides discussed the battered economy with the CEOs of Cypriot commercial banks after the launching of the second raft of government support measures.

The close to €2 bln package contains interest rate subsidies and VAT reductions for the tourism sector and guarantees to the European Investment Bank for cheap loans to businesses through local banks.

“It was...


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COVID19: Cyprus economy enters recovery mode


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Article Tags: covid19, cyprus, economy, enters, recovery,