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Cyprus News Agency: News in English, 13-09-17

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

From: The Cyprus News Agency at <>


  • [01] FM holds meetings in Spain and Portugal
  • [02] VAT income up by €3.1 million in August
  • [03] Building permits down by 25.3% in June

  • [01] FM holds meetings in Spain and Portugal

    Cyprus Foreign Minister Ioannis Kasoulides met Tuesday with his Spanish counterpart José Manuel García-Margallo, in Madrid in the framework of a two-day visit.

    According to an official statement, the two Ministers discussed bilateral issues, the current developments in Southeastern Mediterranean and Middle East, with particular emphasis on the situation in Syria and Egypt.

    They agreed on the need to establish, together with other member states, an informal consultative forum, consisted of Mediterranean EU member states, the first meeting of which will take place next October.

    The consultations of this group will include Mediterranean issues related to the EU, such as the economy, the Union for the Mediterranean, Southern Neighbourhood, issues of illegal immigration, tourism, agriculture etc. FM also met with the Deputy Minister for European Affairs Íñigo Méndez de Vigo, with whom he discussed European and regional issues of common interest.

    Later today the Minister travels to Lisbon for an official visit.

    [02] VAT income up by €3.1 million in August

    VAT income was up by €3.1 million in August to €103.2 million, compared to €100.1 million in August 2012, VAT Service announced, on Tuesday. I

    n view of the economic crisis and the recession, the increase of VAT income by €3.1 million (3.1%) is considered particularly important since it contributes in the effort undertaken by the Ministry of Finance to achieve fiscal targets set, a VAT Service press release says.

    The VAT Service pledges to continue to work "earnestly and with determination", thus further enhancing collection measures and ensuring public revenue, in particular during this difficult period which finds the country in the midst of an unprecedented economic crisis.

    [03] Building permits down by 25.3% in June

    Building permits were down by 25.3% in June, on an annual basis, data published by the Cyprus Statistical Service, on Tuesday, shows. The total value of permits was down by €70.97 million compared to permits issued in June last year.

    The total value of permits issued in June this year came to €64.6 million, compared to €135.59 million last June, recording a fall of 52.34%. Total permits issued in June 2013 came to 416, compared to 557 in June 2012.

    Total area of properties under permit was also reduced in June by 48.9% to 63, 700m2 compared to 124,700m2 in June of last year. According to the Statistical Service's data the 416 permits issued in June will equal with 197 residential units, compared to 523 which were going to be built in June 2012, equaling to a drop of 62.33%. During the period of January - June 2013 a total of 2,701 building permits were issued, down by 26.4% compared to the same period of 2012.

    The total value of these permits was down by 16.7% and the total area covered by 25.1%, whilst their number fell by 22.5%. Building permits constitute an important indicator on future activity in construction.

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