The IMF’s mission visited Nicosia during March 27–31 for the first post-program monitoring (PPM) discussions since Cyprus exited the bailout scheme last year. The PPM forms part of the IMF’s regular monitoring process of countries with significant outstanding IMF credit, focusing on the ability of the said countries to repay the Fund.

By July 2017 the government plans to have ready a draft national strategy for boosting industrial output in the long term, making the island less reliant on imports, industry minister Giorgos Lakkotrypis said recently.

Thomas Cook Airlines has announced it will conduct weekly flights between Newcastle and Paphos throughout the summer season for 2017.

Investment funds and wealthy investors from Russia and China and other Far Eastern countries are purchasing prime real estate in Cyprus.

An increase of 37% in construction permits was recorded in January 2017 compared to the same month last year according to the Statistical Service.

The chairman of the euro area finance ministers, Dutchman Jeroen Dijsselbloem, said that the economic performance of Cyprus is “very strong and very good” and that growth may exceed 3% this year.

Inflation climbed 1.9% in March 2017 compared with March 2016, recording the highest rise since October 2012.

The number of company registrations rose 8.9% in March, to 1,315, compared to the respective month of 2016, the Department of Registrar of Companies and Official Receiver said.

Cyprus can develop into an important energy hub in the Mediterranean, Transport Minister Marios Demetriades said recently, adding that government policy will include Cyprus’ future maritime transport needs for the island’s hydrocarbons.

The price of home prices rose in the fourth quarter of 2016 an annual 2.8% and 3.1% compared with July to September, the statistical service said.