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Cyprus News Agency: News in English, 13-10-03

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

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


CONTENTS

  • [01] Council of Ministers looks into report of Investigation Committee

    on the economy

  • [02] Cyprus registers deflation for fifth month in 2013

  • [01] Council of Ministers looks into report of Investigation Committee on the economy

    The Council of Ministers has decided that the report of the Investigation Committee that probed Cyprus' economic debacle should be handed over to the Attorney General who will study it with a view to decide whether any criminal offenses have been committed.

    The Council has also authorized the Committee to publicize the report. Deputy Government Spokesman Victoras Papadopoulos has said that the report was submitted on Thursday before the Council of Ministers.

    As regards the decree for the recapitalization of the Cooperative Banks, Papadopoulos said that the Council decided that the Minister of Finance has the power to issue decrees with the consent of the Central Bank of Cyprus, for the regulation or the better implementation of the provisions of the law for the recapitalization of the Cooperative Central Bank of Cyprus.

    [02] Cyprus registers deflation for fifth month in 2013

    Cyprus registered negative inflation rate in September 2013 marking deflation for the fifth month this year due to the continuing economic contraction. According to figures released Thursday by Cyprus' Statistical Service, the rate of inflation for September 2013 decreased by 1.0% compared to -0.9% in August 2013 and 2.5% in September 2012.

    The rate of inflation is negative for the fifth time in 2013. On a monthly basis, the CPI for September 2013 increased by 0.65 units or 0.55% to 118,57 units compared to 117,92 in August 2013, owing to mainly increases in the prices of certain clothing and footwear items, certain fresh vegetables and petroleum products.

    Decreases have been recorded in the prices of certain fresh fruit, electricity and tuition fees of private educational institutions and part-time education coaching centers.


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