In a recent article published in the new year special edition of the Phileleftheros newspaper, prominent Cyprus business leaders were asked to comment on the year that was, and where they see the new year taking the Cyprus economy and business community. Managing Partner, Elias Neocleous expressed the view that whilst the consequences of the pandemic have been hard felt in Cyprus, and there is a lot of economic pain to be shared, he is optimistic that the consequences are manageable and will dissipate. He noted that given the level of government intervention both at an EU and local level, it is expected that during the course of 2021  there will be an increasing period of strong economic growth in Cyprus.  He stressed however that it is incumbent on all sectors of the Cyprus economy, especially the professional services industry, to utilise the lessons learned during the pandemic so as to increase productivity and service delivery, especially with regards to the need to adopt technology and increase the pace of digitization of all sectors. The full interview can be accessed here (in Greek only).

The content of this article is intended to provide a general guide to the subject matter. Specialist advice should be sought about your specific circumstances.