Industrial producer prices increased in Cyprus by 0.3% in February 2017 on a monthly basis and by 1.6% on an annual basis, according to Eurostat.

The IMF has warned banks in Cyprus not to rely on rising property prices and economic growth to cut their high levels on non-performing loans (NPLs).

Cyprus’ three systemic banks have submitted three-year plans to the European Central Bank (ECB) on how to reduce their non-performing loans (NPLs), with pressure from regulators who are beginning to warm to the idea of a single, bad bank.

The visit to Cyprus this coming week by a senior US energy official is an important development and a signal from the US government of its support for the island’s hydrocarbons development, Government Spokesman Nicos Christodoulides said recently.

Earnings in Cyprus have risen for the first time in four years according to preliminary estimates from the Statistical Service, Cystat.

Energy Minister Yiorgos Lakkotrypis has said that there is increased interest from Italy for an EastMed pipeline, making it more likely that the ambitious infrastructure project moves ahead.

Construction at the Ayia Napa Marina is moving ahead smoothly according to a press release by the Caramondani company heading the development.

After energy giant Total, it looks like ENI will likewise operate out of the port of Limassol for their scheduled drilling operations, slated to get underway later in 2017.

Finance Minister Harris Georgiades stressed the government’s intention to continue implementing all necessary policies to fully alleviate the consequences of the financial crisis and achieve more economic growth.

Cyprus' current account deficit spiked at €941.8 million in 2016 marking an increase of 82% compared with a deficit of €514,0 million in 2015, data released by the Central Bank shows.