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  • 13 July 2020 Μελέτη για τις περιοχές των Βρετανικών Βάσεων

    Ανακοινώθηκε η περιβαλλοντική μελέτη για... read more

  • 9 July 2020 Cabinet extends town planning incentives

    THE CABINET on Wednesday decided to extend existing town planning incentives... read more

  • 23 June 2020 Historic deal allows property development in British Bases

    CYPRIOTS who own land in non-military areas inside the British Bases will be... read more

  • 9 June 2020 Cyprus beaches have the best water quality in the EU

    Cyprus had the highest proportion of bathing sites with excellent water... read more

  • 28 May 2020 Coronavirus Anastasiades outlines millions to be pumped into the economy updated

    Fortunately, the government is proceeding with helpful measures in order for... read more

Cypriot Investment Scheme
Repossession Property Yield Properties

Latest news

  • 13 July 2020 Μελέτη για τις περιοχές των Βρετανικών Βάσεων

    Ανακοινώθηκε η περιβαλλοντική μελέτη για... read more

  • 9 July 2020 Cabinet extends town planning incentives

    THE CABINET on Wednesday decided to extend existing town planning incentives... read more

  • 23 June 2020 Historic deal allows property development in British Bases

    CYPRIOTS who own land in non-military areas inside the British Bases will be... read more

  • 9 June 2020 Cyprus beaches have the best water quality in the EU

    Cyprus had the highest proportion of bathing sites with excellent water... read more

  • 28 May 2020 Coronavirus Anastasiades outlines millions to be pumped into the economy updated

    Fortunately, the government is proceeding with helpful measures in order for... read more

Fitch upgrades Cyprus

FITCH Ratings has upgraded Cyprus’ long-term foreign and local currency Issue Default Ratings (IDRs) by one notch to BB- from B+, the agency announced on Friday. In its press release Fitch said “The issue ratings on Cyprus’ senior unsecured foreign and local-currency bonds have also been upgraded to BB- from B+. The Outlooks on the long-term IDRs are positive. The Country Ceiling has been upgraded to BBB- from BB+ and the short-term foreign and local currency IDRs have been affirmed at B,” And that “Cyprus is continuing to make strong progress in its adjustment following the 2013 banking crisis.” Fitch projected GDP growth of 2.9% in 2016 (from 1.9% projected a year earlier) referring to the positive results of tourism and the drop recorded in unemployment. “For 2017-2018, GDP growth of around 2.5% will benefit from an expected increase in foreign direct investment,” it says. However, Fitch considers that banks remain weak and pose an on-going to economic stability due to the high level of non-performing exposures. The agency also reports that “The property sector remains illiquid but prices seem to be stabilising at around 30% below their 2008 peak.” Further reading Fitch Upgrades Cyprus to ‘BB-‘; Outlook Positive

Read more at: http://www.news.cyprus-property-buyers.com/2016/10/22/fitch-upgrades-cyprus-to-bb/id=00151742
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