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By Peter Stevenson MEMBERS of Volunteer Doctors Cyprus have treated around 350 people at their free clinic in Nicosia since it opened three months ago, while two more, one in Paphos and one in Polis are due to open today. Limassol also has a free clinic, which was opened only last month, and plans have been drawn ...
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SOME 10 days ago, foreign minister Ioannis Kasoulides raised expectations by announcing the possibility of a deal with Turkey for the opening of the fenced off area of Famagusta, for the return of its inhabitants. In exchange the Cyprus government would agree to the opening of Tymbou airport to direct flights. ...
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By George Psyllides PRIVATE auditors have expressed doubt the electricity authority (EAC) could be considered a going concern and have asked its board to draft a credible plan to tackle the problem, according to the auditor-general’s 2012 report on the semi-state company. Among other issues, ...
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Cyprus Internet Directory [ CYPRIOT ECONOMY - SUBPRIME CRISIS ]

CYPRIOT ECONOMY - SUBPRIME CRISIS

Cyprus Central Bank Governor Athanasios Orphanides said on Tuesday that the subprime crisis in the US market is not expected to have any serious impact on the Cypriot economy, while Finance Minister Michalis Sarris reiterated that he expects economic growth around 4.0% for 2008, compared to 4.4% for 2007.

``We expect a slowdown in the Euroarea, compared to our forecasts,`` Orphanides said, adding, ``at the moment we do not have particular concerns regarding our growth.``

He clarified that a slowdown after very good forecasts for the Euroarea is not something which should concern Cyprus,`` adding however ``the main concern is the inflation tendencies, largely due to the oil prices and particularly whether these inflation tendencies will be consolidated this year.``

Regarding the crisis in the stock markets, Orphanides said, “Given the situation we do not predict any serious impact on the Cypriot market.``

On his part, Sarris referred to the growth rate of 4.4% achieved by Cyprus in 2007 whereas in 2006 the growth rate reached 4%.

``And even if, as the Governor pointed out, (the economy) is affected in 2008, we have strengthened the economy so that it will remain at these level,`` he added.





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