The GDP growth rate in real terms during the second quarter of 2020 is negative and it is estimated at -11.9% over the corresponding quarter of 2019, according to the Statistical Service.

The preliminary General Government fiscal results, which are prepared by the Statistical Service of Cyprus (CyStat) indicate a deficit of €930.9 million (4.6% of GDP) for the period of January – July 2020, as compared to a surplus of €385.7 million (1,8% of GDP) that was recorded during the period of January – July 2019.

The Association of the Cyprus Travel Agents (ACTA) has welcomed the government initiative for free entry to state museums in an attempt to boost visits and upgrade the overall tourism package.

The transfer of fuel terminals to Vasilikos and the demolition of existing facilities in Larnaca are expected to be completed in a year’s time, a meeting heard on Friday.

Bank of Cyprus, the island’s largest lender posted a net loss of €126 million in the first half of 2020, mainly affected by a net loss from an Non-performing exposure (NPE) package sale (Helix 2) and additional loan loss provisions amid the coronavirus pandemic that hampers economic activity.

Industrial production in Cyprus decreased sharply in June 2020, a month during which many COVID-19 containment measures had been gradually lifted in Cyprus.

Cyprus has the second highest proportion of foreign students in the EU, a Eurostat report published on Friday shows.

The Commission and in particular the Commissioner for Health Stella Kyriakidou signed today the contract negotiated by the Commission on behalf of the EU Member States, with the pharmaceutical company AstraZeneca, for the purchase of a total of 300 million doses of vaccine against COVID-19, with the possibility to obtain an additional 100 million doses, which will be distributed proportionally on a population basis.

Over 400 schools all over Cyprus will have solar panels to cover much of their energy needs installed by the end of 2021, the Electricity Authority (EAC) said Thursday.

Total outstanding loans fell to a new low of €31.9 billion with businesses and households struggling in the wake of the pandemic, according to data released by the Central Bank of Cyprus (CBC) on Thursday.