The general government generated a fiscal deficit of €138.4m in Q2 2017 after posting a €200.9m surplus in the quarter before, the statistical service said.

There appears to be increasing interest in alternative Cyprus investments with real estate demand from wealthy buyers active, and ranging from the acquisition of top quality houses to office buildings (as an investment, for income), and so forth.

Tourism is particularly important for peripheral economies in the Eurozone, such as Malta and Cyprus, according to new analysis from PwC.

Hoteliers are pleased with hotel occupancy for the holiday period, according to the president of the Cyprus Hotels Association (Pasyxe), Haris Loizides.

Republic of Cyprus budget savings due to borrowing from the European Stability Mechanism (ESM) and the European Financial Stability Facility (EFSF) in 2016 reached 2.1% of GDP (€0.4 billion).

The harmonised consumer price index fell an annual 0.1% in July as cheaper food and beverages and other industrial products offset the impact of higher energy prices, the statistical service said.

The value of transactions completed with plastic money rose 16% in July 2017 to €250.4m compared with the respective month of 2016, JCC Payment Systems said.

Given the prospect of new gas discoveries in Cyprus’ EEZ, it is timely to review recent developments, says Charles Ellinas, energy expert.

Moody’s Investors Service said it expects Cypriot banks to extend the highest amount of new loans in a single year since the 2013 banking crisis, benefiting from a higher demand for mortgages and corporate credit.

Property sales documents submitted by foreign buyers numbered 251 in July 2017, an increase of 31.41% compared to July 2016 (196), according to Land Registry data.