ECONOMY

Covid-19 costing Cyprus 22 mln euros a day

covid-19-costing-cyprus-22-mln-euros-a-day

The Cypriot economy is losing 660 million euros a month during the coronavirus epidemic, Hellenic Bank’s chief economist Andreas Assiotis has warned, calling on the Republic’s government to implement targeted interventions that will support production so that the economy can restart after the end of the pandemic without being slowed down by any issues.

Assiotis, also a member of the Economy and Competitiveness Council of Cyprus (SOAK), added in statements to the Cyprus News Agency that every month the economy remains in a lockdown costs 3 percent of the country’s annual gross domestic product, or 22 million euros per day.