The University of Cyprus’ Economics Research Centre has projected that the country’s GDP is set to drop by 6.9% in 2020 under a baseline scenario and by 13.1% under an adverse scenario.

Cybarco Development Ltd, a member of the Lanitis Group, resumed construction works at its projects last week, with strict security and hygiene measures in place for the health and safety of its staff. Adhering to the regulations to minimise all potential risks presented by Covid-19 during these unprecedented times, the restart is part of a broader strategy to ease restrictions and restore business for the benefit of the local community and the economy.

One more death was announced on Sunday along with six new coronavirus cases, bringing the total of confirmed cases to 898, including 10 cases at the British Bases. while the total death toll stands at 22, of which 16 are directly attributable to Covid-19.

Final year secondary school pupils are back in school today, two months after schools closed to contain the spread of coronavirus, to prepare for end of year exams on June 9.

The government on Friday signed a memorandum of understanding with commercial banks that would pave the way for the introduction of e-signatures, a catalyst in the state’s long-delayed course towards modernisation and digital transformation.

The seasonally adjusted volume of retail trade decreased by 11.2% in the euro area and by 10.4% in the EU, compared with February 2020, according to estimates from Eurostat, the statistical office of the European Union. In February 2020, the retail trade volume increased by 0.6% in the euro area and by 0.5% in the EU. In March 2020 compared with March 2019, the calendar adjusted retail sales index decreased by 9.2% in the euro area and by 8.2% in the EU.

The health ministry announced six new coronavirus cases on Thursday, identified from 1,774 tests.

The cabinet has appointed a ministerial committee to prepare an action plan for the gradual opening of the island’s two airports, Transport Minister Yiannis Karousos said Thursday.

Pure new bank lending in Cyprus declined by 33% in March compared with the previous month, as the lockdown to curb the spread of the coronavirus outbreak began to bite.

The Council of Ministers decided on Thursday to make available €4.6 million to support farmers adversely affected by measures to contain the spread of Covid-19.