The period of exchange of Cyprus pound banknotes with euros will expire on December 31st 2017.

The island generated a €321m current account surplus in July to September 2017 against a €405.9m surplus in the respective quarter of 2016 and a €7.4m deficit in the quarter before, the Central Bank of Cyprus said.

The government generated a fiscal surplus of €482.1m in the first eleven months of the 2017 or 2.5% of economic output, the statistical service said recently.

The Central Bank of Cyprus (CBC) is conducting a nationwide survey to assess the island’s financial knowledge, with results expected to be announced within the first half of 2018, it emerged recently.

The House labour committee recently unilaterally decided to accept cabinet’s amendments to the law on guaranteed minimum income (GMI).

The Index of Industrial Production for October 2017 reached 88.3 units (base 2010=100), recording an increase of 8.1% compared to October 2016.

The launching of flights connecting Pafos with Cairo, and Pafos with Alexandria on a pilot basis, has been agreed following a number of meetings and consultations between a particular travel agency and Pafos Tourism Development and Promotion Company (ETAP).

The number of tourist arrivals in November 2017 rose 17% to 144,676 compared to the respective month of 2016 as all major markets performed strongly, the statistical service said.

Energy Minister Yiorgos Lakkotrypis said he is prepared for all possible outcomes of the island’s oil and gas exploratory programme, which includes four test drillings in the exclusive economic zone (EEZ) next year.

Steady recovery in the Cyprus real estate market is expected in 2018, with demand expected to continue progressively, according to several market experts, as published in a recent news article from InBusinessNews, a leading news portal of Cyprus.