WEDNESDAY, 25 APR 2018

 

CONNECT

Facebook Linked In Twitter
MTN_07/07-10/04_728x90px
GloriaJeans_266x90px
IMH LTD

Kalogerou: Cyprus is an Ideal Destination for Startups and Tech Companies

CIBA Appoints Doxia Nikia as New President

IMH LTD
PwC_12/04-25/04_468x60px

ECONOMY

FinMin: Government Surplus at €65.5m in January - November 2016

FinMin: Government Surplus at €65.5m in January - November 2016

The general government in generated in January to November a budget surplus of €65.5m on a cash basis which was almost six times higher than that of 2015, the finance ministry said, according to Cyprus Mail.

The improved fiscal balance resulted from cash-basis versus accrual-basis adjustments worth €55.7m in January to November last year, the ministry said in a statement on its website on Monday, January 9. Revenue in the said period rose by €127m to almost €5.8bn and expenditure dropped by €42m to below €5.8bn.

The increase in revenue in the first 11 months of 2016 was on a €138m increase in indirect tax revenue, including €96m in value added tax, the finance ministry said. The drop in spending resulted mainly from €65m decrease in current transfers, a drop in interest payments by €39m and pensions by €23m which more than offset a €38m increase in social security payments and a €31m rise in subsidies.

The primary balance in January to November last year which excludes net interest payments on government debt was €509.4m which was €37m more compared to a year before, the ministry said.

 

MORE ON ECONOMY

Cyprus Records Trade deficit of €412.9M in January

The Statistical Service of Cyprus has announced that it has published the monthly ...

Cyprus Registers Budget Surplus €344m in 2017, Debt Falls To 97.5%

Cyprus registered a 344 million Euros or + 1.8 percent of GDP total budgetary surplus in ...

Fitch Upgrades Cyprus Long-Term Foreign-Currency IDR to BB+ With Positive Outlook

Fitch Ratings has upgraded Cyprus`s Long-Term Foreign-Currency Issuer Default Rating ...

FROM AROUND GOLDNEWS

   

Pilides: Ship Financing a Drive for Further Development of Cyprus Maritime Cluster

We foresee ship financing as another drive to further develop our maritime cluster, particularly in view of the new opportunities arising in Cyprus following ...
   

WhatsApp to Raise Minimum Age Limit to 16 in EU

Popular messaging service WhatsApp is banning under-16s from using its platform in the European Union, the BBC reports. Users must currently be at least ...
   

Cyprus Business Show 2018

Nicosia Chamber of Commerce and Industry (NCCI) and IMH are organizing for the first time the “Cyprus Business Show 2018: The Start-up, Franchise, ...
   

Boohoo Beats Forecasts With 40% Jump in Profit

British online fashion retailer Boohoo on Wednesday 25 April beat forecasts with a 40 percent rise in 2017-18 profit, driven by a jump in revenue on rising ...
   

Google Overhauls Gmail to Lure Businesses Away From Microsoft

Alphabet Inc’s Google unveiled on Wednesday 25 April its first Gmail redesign since 2013, capping what the company says was an expensive overhaul two ...
   

Kalogerou: Cyprus is an Ideal Destination for Startups and Tech Companies

Cyprus comprises a safe, liable and competitive destination for startups and tech companies aiming for a global outreach, and is fully implementing relevant ...
   

DP World Limassol Promotes Cruise Tourism

With the aim of promoting Cyprus as an attractive tourist destination and boosting cruise tourism, DP World Limassol will host leading cruise sector executives ...
   

CIBA Appoints Doxia Nikia as New President

The Cyprus International Business Association (CIBA) announces that Doxia Nikia, Director of D.D. Fidelity Associates Ltd, has been appointed as their new ...
 

YOUR COMMENTS

HEADLINES

MOST POPULAR

Invest Career 19/04-26/08
Gold_Digital_Edition_300x250px

IMH LTD