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Cyprus News Agency: News in English, 13-04-22

Cyprus News Agency: News in English Directory - Previous Article - Next Article

From: The Cyprus News Agency at <http://www.cyna.org.cy>


CONTENTS

  • [01] UK Cypriots pledge to become Cyprus's Ambassadors abroad
  • [02] EU House Speakers urge for more cooperation with third countries
  • [03] Cyprus records significant government debt to GDP increase in 2012
  • [04] Production index in construction drops by 27,0%

  • [01] UK Cypriots pledge to become Cyprus's Ambassadors abroad

    High profile British Cypriots, including prominent entrepreneurs, financiers and philanthropists, will act as goodwill ambassadors for Cyprus in a bid to attract investment from Britain and Europe in specific Cypriot projects relating to business, culture and tourism.

    This was the message articulated by the Federation of UK Cypriots President Peter Droussiotis after a four day fact-finding visit to Cyprus, which included meetings with Cyprus President Nicos Anastasiades and His Beatitude Archbishop Chrysostomos II of Cyprus.

    Droussiotis was accompanied to most meetings by two prominent British Cypriot entrepreneurs and philanthropists, Stelio Stefanou and John Michael Mouskos.

    [02] EU House Speakers urge for more cooperation with third countries

    Ways to strengthen Arab Spring countries following changes in the Middle East and the role of EU national parliaments and the European Parliament in enhancing democracy and human rights in third countries were examined during the first session of the Conference of Speakers of EU Parliaments taking place on Monday, in Nicosia.

    President of the House of Representatives Yiannakis Omirou said that Cyprus can act as a bridge between the EU, on one part, and the Middle East and North Africa on the other.

    Omirou said that "EU parliaments can provide substantial support and technical assistance to Parliaments of countries in transition, so as to make them fully effective and to enable them meet the challenges related to promotion of peace and development, both within their countries and in context of international cooperation."

    [03] Cyprus records significant government debt to GDP increase in 2012

    Cyprus' ratio of government debt to GDP stood at the end of 2012 at 85.8%, recording a significant increase from 2011, according to the first deficit and debt data published on Monday by Eurostat.

    According to the first results, that will be finalized next October, Cyprus government debt was 15,350 bln euros in 2012. A year earlier, in 2011, the government debt ratio was 71.1% or 12,778 bln. This is the second biggest annual increase of debt in the Eurozone, following Spain.

    Government deficit stood in 2012 at 1.127 bln euros or -6.3% of GDP. Cyprus GDP was 17,887 bln in 2012, compared to 17,979 bln in 2011. Government revenue in 2012 increased slightly at 40% of GDP, from 39.7% in 2011.

    [04] Production index in construction drops by 27,0%

    The Production Index in Construction for the fourth quarter of 2012 reached 57,8 units (base year 2005=100,0), recording a decrease of 27,0% over the fourth quarter of 2011, according to the Statistical Service.

    Comparing the fourth quarter of 2012 to the corresponding quarter of 2011 for the component indices, a decrease is observed in the Production Index for Buildings by 29,3% and in the Production Index for Civil Engineering by 21,3%.

    On a yearly basis, the overall index for 2012 registered a decline of 22,0% over 2011. For the component indices, a drop of 19,8% was recorded in the Production Index for Buildings and of 27,3% in the Production Index for Civil Engineering.


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