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Cyprus has been given an extra year to achieve a targeted budget surplus of 4% as part of bailout negotiations with international lenders.
The country now has until 2017 to generate the budget surplus target through spending cuts and tax hikes - versus a previously negotiated target by 2016, The Wall Street Journal informs.
For this year, Cyprus is forecast to post a primary deficit -- a gap in the government's finances before debt payments -- equal to 2.4% of gross domestic product.
Cyprus's government is seeking more time to reach targets required in return for EUR 10 B in international funds after agreeing to impose losses on uninsured depositors at the country's two biggest banks, Bank of Cyprus Pcl and Cyprus Popular Bank Pcl (CPB).
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On the early morning of January 5th 2024, KISA, an anti-racist organization based in Cyprus, endured a violent and targeted attack in its offices
A new variant of the coronavirus has been discovered in Cyprus. It is called Deltacron because it is a combination of the existing Delta and Omicron variants, BNR reports.
From May 10 onwards, Cyprus would be open for tourists fully vaccinated against Covid without restrictions, Tourism Minister Savvas Perdios said Monday.
From 1 April Cyprus officially opens to the tourist markets of over 65 countries, and a new protocol regulating entries into the country comes into effect.
The EU has extended sanctions against Turkey for its drilling operations in the exclusive economic zone of the Republic of Cyprus.
Amid escalating tensions on its borders and a significant increase in the Ministry of National Defense budget, Romania is discreetly preparing for the reintroduction of compulsory military service
Defense Minister Sergei Shoigu announced today that Russia will escalate strikes on Ukrainian storage bases housing weapons supplied by Western nations
In a move aimed at bolstering its military forces amid the ongoing war with Russia, Ukraine has announced the suspension of consular services for its male citizens eligible for military service and residing abroad
A high-profile scandal rocks Ukraine's political landscape as Mykola Solskyi, Minister of Agrarian Policy and Food and former Chairman of the Parliamentary Committee on Agriculture, faces allegations of involvement in an organized criminal group orchestra
A dire situation looms over European airspace as thousands of passenger planes, predominantly ferrying tourists, find themselves ensnared in a perilous web of Russian jamming attacks, leaving them disoriented and vulnerable mid-flight.
Bulgaria holds the 15th spot worldwide in terms of average salaries for individuals engaged in freelance professions, boasting an average wage of $148
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