President Nicos Anastasiades said that Cyprus is emerging stronger from the crisis it experienced in the past years and managed to enhance and expand its comparative advantages.

President Nicos Anastasiades announced his intention to spearhead a national effort to restructure tourism on multiple fronts, and requested the contribution of the tourist industry and other political parties.

Eurobank Cyprus announced its fiscal report for Q1 of 2016, recording after-tax profits of €7.8 million.

Νet demand for loans in Cyprus by both businesses and households recorded an increase in the first quarter of 2016, according to the Bank Lending Survey conducted in the euro area Member States and published by the Central Bank of Cyprus.

Cyprus’ government debt rose by €94m in March 2016, to €18.7bn, compared to December, the public debt management office said.

Revenue from tourism recorded a significant increase of 24.5% in March 2016, amounting to €80.9 million in March 2016 compared to €65.0 million in the corresponding month of the previous year.

The new Cyprus airline, Cobalt, recently embarked on its maiden flight.

The Consumer Price Index for May 2016, increased by 0,61 units to 98,66 units compared to 98,05 units in April 2016.

The total Non-Performing Facilities (NPFs), recorded a decrease of €1.1 billion in March 2016, the Central Bank of Cyprus announced recently.

Finance Minister Harris Georgiades does not anticipate that a possible vote in favour of a Brexit on June 23 2016 in a referendum to decide if the UK should leave the EU, could have a negative impact on Cyprus’ economy.