A new legislative initiative has been introduced to the House of Representatives aimed at insulating individuals who act as guarantors for property loans. The draft bill, championed by DIKO lawmakers Zacharias Koulias and Christos Orphanides, proposes a fundamental shift in debt recovery: lenders would be legally barred from pursuing a guarantor until they have exhausted every available legal remedy...
Cyprus has emerged as a regional leader in price stability, securing the fifth-lowest inflation rate in the European Union for January 2026. New data released today by Eurostat shows the island's annual inflation rate tumbled to 1.2%, a sharp decline from the 2.9% recorded in the same month last year. This downward trend reflects a broader "cooling" effect across the continent as energy pressures ease,...
Cyprus demonstrated strong fiscal management in 2025, with state spending reaching 92% of its budgeted target, according to a year-end report released by the Treasury of the Republic on Tuesday, February 24, 2026. While expenditures remained closely aligned with projections, total revenues concluded at 87% of the target, primarily due to technical adjustments in the government's borrowing schedule. The...
In a move designed to shift the burden of debt away from third-party backers, DIKO MPs Zacharias Koulias and Christos Orphanides have tabled a high stakes bill before the House of Representatives. The proposed legislation seeks to fundamentally reorder the hierarchy of loan recovery, mandating that financial institutions exhaust all legal and physical avenues against a primary borrower before ever knocking...
Middle-income households in Cyprus are facing a deepening crisis as foreclosure rates for primary residences valued under €350,000 have seen an unprecedented spike. Confidential data from the Central Bank of Cyprus (CBC), recently submitted to the House of Representatives, reveals that the vast majority of homes now being liquidated at auction fall within this "affordable" price bracket. The surge...
With the House of Representatives set to dissolve in mid-April ahead of the May legislative elections, lawmakers are launching a high stakes, last minute campaign to freeze mass property repossessions. MPs are sounding the alarm over what they describe as a legislative vacuum that has left thousands of homeowners and small business owners defenseless against aggressive debt recovery. The Parliamentary...
The Republic’s Prosecution Authority has officially triggered a new legal chapter in the "Golden Passport" saga, filing an appeal against the Nicosia Criminal Court’s recent decision to clear former House President Dimitris Syllouris and ex-MP Christakis Giovani. During a high stakes press conference held on Wednesday, February 18, 2026, the Legal Service argued that the 170 page majority ruling...
Bank of Cyprus (BoC) has capped a "landmark year" with a net profit of €481 million for 2025, fueled by a historic surge in new lending and a robust domestic economy. At a press conference held on Wednesday, February 18, 2026, CEO Panicos Nicolaou unveiled the preliminary results, highlighting a final quarter that contributed €128 million to the bottom line. The bank’s performance has paved the way...
Cyprus is defying the traditional "off-season" slump, with Larnaca and Paphos airports reporting a substantial 16% increase in passenger traffic between November 2025 and January 2026. This growth, compared to the same period in 2024/2025, signals a successful shift toward establishing the island as a year-round destination. Maria Kouroupi, Director of Aviation Development at Hermes Airports, attributed...
The Cypriot economy demonstrated a powerful and broad-based expansion throughout 2025, with key sectors from tourism to heavy industry hitting significant milestones. According to the "Monthly Economic Developments" bulletin released on Tuesday, February 17, 2026, by the Statistical Service of Cyprus (CyStat), the island saw upward trends in almost every major economic indicator, signaling a robust...
