Cyprus' non-performing loans (NPLs) recorded a small decrease by €13.5 million, totalling €6.52 billion at the end of August, according to the latest data...
The Cyprus Residential Property Price Index (RPPI) continued its upward trend albeit with a declining pace, affected by the reduced demand from foreign investors...
Non-performing loans (NPLs) rose for a second consecutive month in May amounting to €8.05 billion with non-performing exposures (NPEs) dropping by €11 million to €10.13 billion, or some 30.8% of total loans.
Cyprus' economic expansion is set to remain robust, driven by domestic demand, but risks are tilted to the downside, according to the European Commission's spring 2019 economic forecast.
The EC and the ECB have renewed their call on Cyprus to "swiftly address the long-overdue reform of the title deeds issuance and transfer system" at the completion of their 6th PPS mission.
The European Commission notes that despite the recent improvement, Cyprus' vulnerabilities, which are mostly due to long-lasting stock-imbalances, continue to be significant.
Risks, driven by world economy deceleration, Brexit as well as Cyprus' domestic challenges are clouding the medium-term outlook of the Cypriot economy, an economic conference has heard.
The International Monetary Fund (IMF) noted that Cyprus had made little progress on resolving non-performing loans in its mission's concluding statement following its recent official visit.
The high level of non-performing loans (NPLs) remain a problem for the Cyprus banking sector despite the strong growth boosting the island's economy says the IMF representative in Cyprus.
