Cyprus will not need to request any additional financial aid from its international lenders when its bailout program runs out in March 2016, Finance Minister Harris Georgiades said recently.

Cyprus general government generated €11.6m budget surplus or 0.07% of GDP for the period of January-August 2015, compared to a €151.2m in the corresponding period of 2014, due to reduced government revenue.

ENI’s vision for a gas hub in the eastern Mediterranean includes Cyprus, Energy Minister Giorgos Lakkotrypis said recently.

A countdown for a return to the markets to raise millions has begun with presentations to investors by Cyprus international consultants in London.

The price index for construction materials fell by 2.37% from January to September 2015 compared with the same period of 2014, according to data released recently by the statistical service Cystat.

The Cypriot real economy is recovering, challenging the belief that a tight fiscal policy always leads to deeper recession, Minister of Finance Harris Georgiades told the 6th Limassol Economic Forum recently.

Investments in research and developmentcomprise only 0.5% of GDP in Cyprus, far off EU targets that aim for 3%, chairman of the technical chamber of Cyprus (ETEK) Stelios Ahniotis said recently.

Conference tourism rose 2.8% in 2014 compared to the previous year but the sector is being stifled by the lack of an independent large convention centre, the Cyprus Tourism Organisation (CTO) said recently.

Attracting investments is the Cyprus government’s top priority, President Nicos Anastasiades said from China, pointing out that foreign investments constitute the catalyst for economic growth, job creation and prosperity.

The Finance Ministry said that it is confident that the Cypriot economy will grow at a rate higher than forecast by international creditors following the seventh programme review.