Financial Mirror (Cyprus) - - FRONT PAGE -

reached a peak, prices are bow head­ing lower saw the Gen­eral In­dex gal­lop 1.8% close to lev­els last seen in June and Au­gust the pre­vi­ous year. BOCY gained 2.6% to CYP 1.56, a cat­a­lyst for fu­ture di­rec­tion.

The Cyprus pound con­tin­ued to slide against a ris­ing euro, end­ing at 0.5794-0.5828 (1.7210), but re­cov­ered lost ground against the dol­lar, end­ing at 0.4415 or $2.2650. Deal­ers blamed the mod­er­ate de­cline on sea­sonal fac­tors rather than any trend, but noted that the de­cline, now at about 0.8% may con­tinue un­til May when the tourist sea­son picks up and for­eign ex­change pours in.

Home prices fell 1.5% in De­cem­ber ac­cord­ing to the Buy­Sell Home Price In­dex that closed at 107.22 with a gain of 7.2% from the start of the year, bring­ing the av­er­age home price to CYP 83,533. The in­dex saw its sec­ond big­gest de­cline in April when the An­nan Plan was put to a ref­er­en­dum, but the EU ac­ces­sion month of May trig­gered a new rise that peaked in Au­gust and later started to fall.

Regis­tered un­em­ploy­ment on the last day of De­cem­ber 2014 rose by 2,056 or 14% from Novem­ber and reached 16,600 or 4.8% of the labour force. The in­crease was mainly in the sea­sonal sec­tors of ho­tels and restau­rants, but also in pub­lic ad­min­is­tra­tion.

The gov­ern­ment col­lected CYP 70 mln by the end of 2004 from the one-off tax amnesty on of­fer for se­cret ac­counts, with the head of the Tax Dec­la­ra­tion Of­fice, Theophi­los Theophilou say­ing that 13,000 fi­nan­cial dec­la­ra­tions had been sub­mit­ted, rep­re­sent­ing some CYP 1.5 bln in un­taxed and over­seas de­posits.

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