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.

With the partial lifting of the restrictive measures imposed in March to combat the spread of COVID-19 in Cyprus, a number of businesses resumed operations this Monday.

The Cabinet on Thursday approved a new bundle of support measures for businesses to keep the economy afloat after the slowdown brought about by the coronavirus outbreak.

Finance Minister Constantinos Petrides appeared optimistic that Cyprus will emerge from the crisis very soon speaking in the online briefing organized by Invest Cyprus.

Construction work of the casino project in Limassol resumed on Wednesday after COVID-19 lockdown, setting a course to deliver Europe’s largest Integrated Casino Resort (ICR).

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.