Cyprus is heading for a tough economic recession with GDP growth in 2020 to decline -7.4% while public finances will deteriorate with a -7% deficit, according to the EU.

Five new cases of coronavirus were announced by the health ministry on Wednesday evening, bringing the total number of confirmed infections to 883.

After years of dragging its feet and now forced by the coronavirus crisis to implement e-government as soon as possible, the government will soon be announcing the introduction of electronic signatures, according to the minister of innovation and digital policy.

An appeal before the tenders review authority that was stalling a pilot programme for the installation of traffic cameras has been rejected, opening the way for plans to go ahead, the transport ministry announced on Wednesday.

The general government surplus grew to 0.8% of GDP for the first quarter of 2020, according the preliminary General Government fiscal results, which are prepared by the Statistical Service of Cyprus (Cystat).

Four new coronavirus cases and one death were announced by the health ministry on Tuesday, bringing the total of cases to 878.

The Covid-19 crisis is first and foremost a humanitarian crisis and one that raises fears for the health of ourselves, our loved ones, our families, our co-workers and friends. The cohesion of society itself is at risk and the survival of vulnerable people and businesses threatened. Institutions such as the health services, governmental authorities, banks, even organised religion are all tested and many are found seriously wanting.

In announcing its results for the last quarter of 2019, showing improvements across several metrics including profits and capital adequacy, Eurobank this week said it stands ready to withstand the ongoing crunch due to the coronavirus and help the community rebuild.

Energy companies licensed to prospect for gas off Cyprus have assured the government they are committed to their contracts despite inevitable delays due to the coronavirus situation, MPs heard on Tuesday.

Cyprus’ construction industry was on the rise prior to the coronavirus outbreak, as building permits increased during the first two months of the year by 5.6% compared to the same period of 2019.