The seasonally adjusted volume of retail trade decreased by 11.2% in the euro area and by 10.4% in the EU, compared with February 2020, according to estimates from Eurostat, the statistical office of the European Union. In February 2020, the retail trade volume increased by 0.6% in the euro area and by 0.5% in the EU. In March 2020 compared with March 2019, the calendar adjusted retail sales index decreased by 9.2% in the euro area and by 8.2% in the EU.

The health ministry announced six new coronavirus cases on Thursday, identified from 1,774 tests.

The cabinet has appointed a ministerial committee to prepare an action plan for the gradual opening of the island’s two airports, Transport Minister Yiannis Karousos said Thursday.

Pure new bank lending in Cyprus declined by 33% in March compared with the previous month, as the lockdown to curb the spread of the coronavirus outbreak began to bite.

The Council of Ministers decided on Thursday to make available €4.6 million to support farmers adversely affected by measures to contain the spread of Covid-19.

With the partial lifting of the restrictive measures imposed in March to combat the spread of COVID-19 in Cyprus, a number of businesses resumed operations this Monday.

The Cabinet on Thursday approved a new bundle of support measures for businesses to keep the economy afloat after the slowdown brought about by the coronavirus outbreak.

Finance Minister Constantinos Petrides appeared optimistic that Cyprus will emerge from the crisis very soon speaking in the online briefing organized by Invest Cyprus.

Construction work of the casino project in Limassol resumed on Wednesday after COVID-19 lockdown, setting a course to deliver Europe’s largest Integrated Casino Resort (ICR).

Cyprus is heading for a tough economic recession with GDP growth in 2020 to decline -7.4% while public finances will deteriorate with a -7% deficit, according to the EU.