Cyprus must gradually return to prudent fiscal and macroeconomic policies to bolster its economic standing, Finance Minister Constantinos Petrides said on Thursday, warning that a reversal of reforms would harm public finances and the banking sector.

Ireland’s Eurogroup President Paschal Donohoe praised Cyprus’ “impressive recovery” from the coronavirus outbreak, saying it was down to good national policies coupled with EU decisions.

Moody’s Investors Service (“Moody’s”) has on Wednesday upgraded Bank of Cyprus Public Company Limited’s (Bank of Cyprus) and Hellenic Bank Public Company Ltd’s (Hellenic Bank) long-term bank deposit ratings to B1 from B3 – indicating a moderate level of concern by the ratings agency according to the agency website.

The government will proceed with the substitution of all public sector motorcycles and motorbikes with electric vehicles. Additionally, all 225 private motorcycles and motorbikes used by the Department of Postal Services will be replaced with electric motorcycles.

The Strategy and Transactions team of EY Cyprus undertook a lead financial advisory role on behalf of the Ministry of Transport, Communications and Works (“MTCW”) of the Republic of Cyprus in the successful completion of the transaction for the re-development of the Larnaca Port and Marina area between the Government of the Republic of Cyprus and Kition Ocean Holdings Ltd.

The Amending Law to the Assessment and Collection of Taxes Law (L.126(I)/2020) has introduced an obligation on all taxpayers to submit a personal income tax return, irrespective of their income.

The public consultation on “Vision 2035: Long-Term Strategy for the Sustainable Development of the Cypriot Economy,” was launched on Wednesday.

The antiquities department on Wednesday urged bathers and divers to be cautious when swimming in the Amathus area during works to showcase the ancient underwater port.

Cypriots or permanent residents of the Republic who have been vaccinated in non-EU countries may now obtain the EU Digital Covid Certificate (EUDCC), the health ministry said on Wednesday.

Croatia will impose obligatory Covid-19 tests for visitors coming from Cyprus, Britain and  Russia from July 26, the state health institute said on Wednesday.