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Ministry of Finance, Minister: Makis Keravnos. Ministry of Foreign Affairs, Minister: Constantinos Kombos. Ministry of Health, Minister: Popi Kanari. Ministry of Interior, Minister: Constantinos Ioannou. Ministry of Justice and Public Order, Minister: Anna Prokopiou. Ministry of Labour and Social Insurance, Minister: Yiannis Panayiotou [1] [2]
The economy of Cyprus is a high-income economy as classified by the World Bank, [3] and was included by the International Monetary Fund in its list of advanced economies in 2001. [1] [2] Cyprus adopted the euro as its official currency on 1 January 2008, replacing the Cypriot pound at an irrevocable fixed exchange rate of CYP 0.585274 per €1.
Politics of Cyprus. The Council of Ministers is the executive branch of the Cypriot government, consisting of ministers. The council is chaired by the President of Cyprus and the ministers head executive departments of the government. The President and his ministers administer the government and the various public services .
The Economic Adjustment Programme for Cyprus, usually referred to as the Bailout programme, is a memorandum of understanding on financial assistance to the Republic of Cyprus in order to cope with the 2012–13 Cypriot financial crisis . It was signed in March 2013 by the Cypriot Government on one hand, and on the other hand by the European ...
Contents. President of Cyprus. The President of Cyprus, officially the President of the Republic of Cyprus, [a] is the head of state and the head of government of Cyprus, as well as the commander-in-chief of the Cypriot National Guard. The office was established by the Constitution of 1960, after Cyprus gained its independence from the United ...
The Cyprus government has given Chevron another six months to come up with a revised plan to develop a sizeable natural gas deposit off the island nation’s southern coastline after an earlier ...
Taxation. Taxes in Cyprus are levied by both the central and local governments. Tax revenue stood at 39.2% of GDP in 2012. [1] The most important revenue sources are the income tax, social security, value-added tax and corporate tax, and are all collected by the central government. Income tax is levied on a progressive rate.
The 2012–2013 Cypriot financial crisis was an economic crisis in the Republic of Cyprus that involved the exposure of Cypriot banks to overleveraged local property companies, the Greek government-debt crisis, the downgrading of the Cypriot government's bond credit rating to junk status by international credit rating agencies, the consequential inability to refund its state expenses from the ...
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