Cyprus News Agency: News in English, 16-10-21

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From: The Cyprus News Agency at <http://www.cyna.org.cy>

CONTENTS

[01] Private debt still high in Cyprus

[02] Cyprus as a yearlong tourist destination promoted in Yekaterinburg

[01] Private debt still high in Cyprus

Domestic households and non-financial corporations (NFC) continue to be highly indebted although the latest data indicate that debt levels have started decreasing, says a Central Bank`s of Cyprus report for September, released Friday.

Private non-financial debt stood at 354.2% of GDP as at the end of March 2016, down from 357.6% in the previous quarter. In comparison with the previous year, household and NFC debt ratios declined gradually to 127.3% and 226.9%2 of GDP, respectively, at the end of March 2016.

Bank credit to the domestic non-financial private sector decreased to 243.1% of GDP at end of March 2016 compared with 252.0% a year earlier.

Furthermore, a stabilisation in the financial position of households and NFCs was observed. The net financial asset position (net worth) of households increased to 121.8% of GDP in 2016 Q1. The net financial ...

(CNA)

*The full text of the news item is available in the paid version of the CNA web service.

*CNA reserves the copyright to the news stories it files, which is granted to subscribers for specific use only.

[02] Cyprus as a yearlong tourist destination promoted in Yekaterinburg

The General Consulate of Cyprus in Yekaterinburg has contributed recently in a series of events, promoting Cyprus` tourism to the Russian district. According to an official announcement, events included tourism exhibitions, seminars and photo exhibitions, with particular focus on alternative tourism and yearlong activities.

In particular, the Consulate had for a third consecutive year a kiosk in "Expotravel 2016", the third largest tourism exhibition in Russia, that took place between October 7 and 8.

(CNA)

*The full text of the news item is available in the paid version of the CNA web service.

*CNA reserves the copyright to the news stories it files, which is granted to subscribers for specific use only.

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