Breaking news

March Sees a Significant Upsurge in Cyprus Retail Trade Turnover by 5.6%

by News Editor

May 2, 2025

The retail trade industry in Cyprus experienced a notable boost in March 2025. According to data from the Cyprus Statistical Service (Cystat), both the value and the volume of retail turnover increased by 5.6% compared to March of the previous year.

This growth in the Turnover Value Index of Retail Trade, excluding motor vehicles, highlights a steadily rising consumer activity. The Turnover Volume Index, which factors in the quantity of goods sold, also mirrored this 5.6% growth year-on-year, suggesting a steady expansion in the sector’s economic footprint.

Follow THE FUTURE on LinkedIn, Facebook, Instagram, X and Telegram

Want to delve deeper into Cyprus’ evolving marketplace? Explore our insight on the outlook for stranded property buyers in Cyprus and witness how local economic pivots affect property dynamics.

The Future Forbes Realty Global Properties

Cyprus Government Moves to Cut Electricity Prices

by THEFUTURE.TEAM

May 13, 2025

According to the government spokesman Konstantinos Letymbiotis, the Electricity Authority of Cyprus (EAC) and the energy regulator are set to meet this week to discuss a formula to lower the price of electricity.

This development comes from President Nikos Christodoulides’ remarks over the weekend, where he urged the EAC not to increase electricity rates. Christodoulides confirmed that he had a meeting with the EAC, asking them not to impose any increases at this juncture.

The government spokesman emphasized that the current administration is committed to bringing down the price of electricity in any way possible. Letymbiotis noted that the state-run power utility and the regulator would make their own assessments based on the wider direction of the government regarding reductions in the coming time period.

It is worth noting that Cypriots pay the second-highest rates for electricity in Europe when adjusted for spending power, according to Eurostat data released last week. Only consumers in the Czech Republic paid more for their household energy bills than those in Cyprus.