The Industrial Turnover Index for the period January–December 2015, showed a decrease of 2,1% compared to the corresponding period of the previous year, according to recent data released by the Statistical Service of Cyprus.

Cyprus decisively continues to reform and restructure and is confident that it will overcome the remaining challenges, said Government Spokesman Nikos Christodoulides recently.

The European Bank for Reconstruction and Development (EBRD) is stepping up its support to Cypriot exporters and importers with a €20 million trade facility to Hellenic Bank under the EBRD’s Trade Facilitation Programme (TFP).

Almost €300 million has been spent in credit card transactions by Greek Cypriots and Turkish Cypriots since the checkpoints opened in 2003.

Cyprus saw a spike in tourism reservations from the German market at one of the industry’s biggest and most important tourism exhibitions – the ITB in Germany.

The job vacancy rate in Cyprus was 0.7% in the fourth quarter of 2015, up from 0.3% in the same quarter of 2014, placing Cyprus fourth lowest amongst the EU28, according to recent figures published by Eurostat.

Standard and Poor’s (S&P) rating agency affirmed Cyprus’ long and short-term sovereign credit ratings at ‘BB-/B’, with a positive outlook, expecting the economy to grow at more than 2% over 2016-2019.

The Cyprus Stock Exchange (CSE) experienced a negligible drop on Monday, March 21 at lunchtime (12.40), with the General Index make losses of 0.06% and the FTSE/CySE 20 Index down 0.08%.

Larnaca-based Cobalt Aero plans to start charter operations in May 2016 and scheduled flights in June while their first aircraft is expected in Cyprus in a few days, CEO Andrew Pyne told the press.

Cyprus’ nominal gross domestic product rose 0.2% in 2015 to over €17.4bn after shrinking 3.7% the year before, the statistical service said.