The Cyprus Stock Exchange (CSE) is set to introduce new government bonds worth €25 million, issued on April 26, 2024, with the trading code GD13B24 / TB13B24 and ISIN CY0240910816. This move signifies a significant addition to the market offerings and reflects economic stability in Cyprus.
Cyprus is on the path to economic recovery, with the IMF projecting a decrease in public debt ratio to 70.7% this year and aiming to reach the 60% mark by 2026. The tourism sector is flourishing, with a 9.8% increase in arrivals, while the Cyprus Stock Exchange reflects investor confidence and economic vigor with its recent growth.
The Cyprus Stock Exchange has introduced new 13week government bonds issued by the Republic of Cyprus, each with a €1,000 nominal value and a total issue of €25 million. These noninterestbearing bonds, with ISIN code CY0240880811, are set to mature on June 21, 2024, offering investors a unique opportunity to diversify their portfolios and engage with the island nation’s financial market.
The Cyprus Stock Exchange (CSE) faces a budget deficit in 2024, with expenses surpassing revenues by over €1.6 million. To cover this shortfall, the CSE plans to tap into its cash reserves, ensuring operational continuity and financial stability for the upcoming year.
Alternative financing options for SMEs and startups in Cyprus, including stock exchange listing, are being highlighted by the Cyprus Chamber of Commerce and Industry on March 13, 2024, to aid in capital raising. Additionally, the National Betting Authority’s recent financial insights revealed that the Limassol casino has generated €421 million in revenue for the government.
