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Percentage of Cypriots using e-government services dropped to 66% in 2023

In 2023, Cyprus was among the EU’s member states with the lowest percentage of citizens interacting with public authorities online (66%), staying close to the average of the EU (69%).

This figure was significantly higher than the country with the lowest score (Romania, 23%) but significantly lower than the highest scoring country (Denmark, 98%), according to data released by Eurostat, the statistical service of the EU.

The data shows a significant reduction compared to 2022, when the share for Cyprus stood at 90%. During the same period, there was a small increase in the EU level from 68% to 69%.

The data captures the share of EU citizens aged 16-74 that have used a website or an app of a public authority in the preceding 12 months.

The share varied greatly among EU countries, with the highest shares recorded in Denmark (98%), Finland, the Netherlands and Sweden (all 95%). In contrast, the lowest shares were recorded in Romania (23%), Bulgaria (30%) and Germany (58%).

Looking at the different e-government activities in more detail reveals that, in 2023, 42% of people in the EU used e-government services in the previous 12 months to obtain information about services, benefits, laws, opening hours or similar. This was followed by the downloading or printing of official forms (40%), the accessing of personal information (39%), and the making of an appointment or a reservation and receiving official communication or documents (37% for both).

The share of individuals who submitted tax declarations online was somewhat lower at 29%. Similarly, the figures for accessing public databases or registers were 19%, while 18% of people requested official documents or certificates and 17% requested benefits or entitlements online.

In Cyprus, the activity with the largest share was obtaining information about services, benefits, laws, opening hours et cetera (50%), accessing personal information (43%), downloading or printing official forms (31%), requesting benefits or entitlements online (28%) and the accessing of public databases or registers (25%).

These were followed by submitting tax declarations online (23%), requesting official documents or certificates (22%), receiving official communication or documents (19%) and making appointments or reservations (15%).

Compared to 2022, the most significant change was the drop in receiving official communication or documents from 88% to 19%, with drops also recorded in accessing personal information (from 51% to 43%) and making appointments (from 32% to 15%). There was however an important increase in the share of citizens obtaining information (from 41% to 50%), requesting benefits or entitlements online (from 11% to 28%) and accessing public databases or registers (from 15% to 25%).

Bitcoin Surges 23% In A Week As Investor Optimism Returns

Bitcoin was on track for a weekly gain of around 23% on Friday as a series of positive macroeconomic and policy developments boosted investor sentiment.

The cryptocurrency was trading about 6% higher at roughly $77,000, up from around $62,800 at the start of the week. Crypto-related stocks also rallied, with Coinbase and Circle gaining more than 9%, while Strategy rose 7%.

Macro Factors Fuel Rally

Bitcoin’s latest surge began Wednesday after Treasury yields fell sharply following a major intervention by the U.S. Treasury in the bond market. Lower yields eased pressure on risk assets and helped trigger a broader move into cryptocurrencies.

The rally was further amplified by a major short squeeze. Around $2.7 billion in crypto short positions were liquidated, according to CoinGlass.

Max Stuedlein, head of Partnerships at Sygnum APAC, said the move reflected an alignment of macroeconomic and policy catalysts, including the Treasury’s decision to increase buybacks of longer-dated government debt.

Clarity Act Boosts Sentiment

Investor confidence improved further on Thursday as the White House and crypto industry leaders made a final push to advance the Clarity Act in the coming weeks.

The legislation is widely viewed as a potential catalyst for the crypto market, although its chances of passing remain relatively limited.

Despite the rally, bitcoin remains well below its 2026 high of $94,820 reached in January and its all-time high of $126,198, set last October.

Analysts See More Volatility Ahead

Lucy Gazmararian, founder and managing partner at Token Bay Capital, said the crypto market may be approaching the end of its bear cycle.

She expects bitcoin could experience one more decline of around 20% before the market turns, pointing to historical cycles and the recent liquidation of heavily leveraged short positions.

Gazmararian also described bitcoin as a long-term hedge against monetary debasement, while warning that its short-term price remains highly volatile and driven by market cycles.

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