PAFILIA Group will find out in the coming days whether they have met the necessary criteria to construct a long-anticipated marina in Paphos, according to the head of the Paphos Chamber of Commerce and industry.

Cyprus' economy, the euro area’s second smallest, expanded by 3% in real terms last year, 0.2 points higher than the forecasted 2.8% announced in March of 2017, the statistical service said.

Cyprus’ trade deficit widened 2.2%, to over €2.8bn, in the first eight months of the year compared to the respective period of last year mainly on increased imports, the statistical service said.

The International Monetary Fund (IMF) said recently it expects the Cypriot economy’s growth to slow down to 2.6% next year from 3.4% in 2017.

The number of company registrations rose 1.4% last month, to 1,149, compared to September 2016, the Department of the Registrar of Companies and Official Receiver said.

The International Monetary Fund (IMF) said Cyprus’ economy performed “an impressive turnaround” but remains vulnerable to shocks because of high debt levels and to a probable boom bust resulting from the government’s passport schemes.

An opinion piece by Mr. Kypros Georgakis, Manager Funds Unit, Amicorp (Cyprus) Ltd.

While the economy in Cyprus is showing signs of recovery and the GDP is growing at a higher than expected rate, one of the most important contributing factors of this growth is the record levels of tourist arrivals in the last couple of years. Mrs. Damiani Papatheodotou, Research Analyst and Mr. Nikolas Kourtis, Research Division at AXIA Ventures Group Ltd analyse the issue.

The Cypriot economy generated a €7.4m current account deficit in the second quarter of 2017 compared with a deficit of €472.2m in the respective period last year and €718.8m in January to March, the Central Bank of Cyprus said.

The consumer price index fell an annual 0.4% in September mainly on cheaper vegetables and cleaning products, which offset an increase in energy prices, the statistical service said.