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October 2024

Mortgages rate up, household deposits rate down in August

Banks in Cyprus increased the interest rate on loans for house purchase in August, while dropping the interest rate on deposits from households. In the same month, amounts of new loans dropped by a third, compared to July.

The Central Bank of Cyprus…

Youth unemployment drops to 18.3%, lowest since 2004

Unemployment among young people between 15 and 24 years of age dropped to 18.3% in August from 20.1% in July, falling to the lowest level ever recorded since the beginning of the historical series in 2004, Istat said Wednesday.

The stats agency said…