Cyprus recorded robust real GDP growth of 2.8% year on year in Q4 2016 putting Cyprus in the top 10 in the EU, according to Eurostat.

On 1 March 2017, the Bank of Cyprus announced the Preliminary Group Financial Results for the year ended 31 December 2016, recording a profit after tax of €64 million for 2016 marking the Bank’s first profitable year after the 2013 economic crisis.

Featuring more than 265 completed projects under its belt, Aristo Developers continues its dynamic course with the new addition to the rich collection of unique, new residential projects in the most sought-after locations of Limassol.

Credit institutions are offering attractive interest rates and extended loan repayment deadlines in an effort to reignite the housing loan market.

Cyprus ranked 19th out of 195 countries for its high level of political rights and civil liberties in 2016, higher than France and the US, which came in at 27th and 28th place respectively.

Cyprus’ energy plans are on track and news of developments is expected soon, the government spokesman said recently.

MPs recently began an article-by-article discussion of a government bill governing the establishment and operation of a National Investment Fund to manage future hydrocarbons proceeds.

In January 2017 compared with December 2016, the seasonally adjusted volume of retail trade fell by 0.1% in the euro area (EA19), while it rose by 0.1% in the EU28, according to estimates from Eurostat.

Millions of euro worth of investments, from skyscrapers to hotels, malls and golf courses, and luxury homes are being promoted by private investors around Cyprus.

Russians have been snapping up the luxury homes Cypriots have had to hand over to the Bank of Cyprus to reduce or cover their debts.