Insider Business Cyprus 37th in Forbes' best countries for business list

Cyprus 37th in Forbes’ best countries for business list

Cyprus is ranked 37th in the Forbes’ ‘Best Countries for Business’ list for 2019.

The United Kingdom is Forbes’ ‘Best Country for Business’ for 2019, while the Central African Republic is in the last place.

According to Forbes, Cyprus ranks 21st in trade freedom, 41st in monetary freedom, 41st in property rights, 45th in innovation, 33rd in technology, 50th in red tape, 37th in investor protection, 40th in corruption, 1st in personal freedom and 44th in tax burden.

In the Cyprus’ country profile section Forbes writes: “Since the bailout, Cyprus has received positive appraisals by the Troika and outperformed fiscal targets but has struggled to overcome political opposition to bailout-mandated legislation, particularly regarding privatizations. The rate of non-performing loans (NPLs) is still very high at around 49%, and growth would accelerate if Cypriot banks could increase the pace of resolution of the NPLs. In October 2013, a US-Israeli consortium completed preliminary appraisals of hydrocarbon deposits in Cyprus’ exclusive economic zone (EEZ), which estimated gross mean reserves of about 130 billion cubic meters. Though exploration continues in Cyprus’ EEZ, no additional commercially exploitable reserves have been identified. ”

 

Top Stories

30-year-old arrested for breaking into and stealing from photo studio

A 30-year-old in Paphos has been remanded in custody for breaking into and stealing from a photo studio. The police are also looking for...

Woman in custody for knife possession

The Dhekelia British Bases police arrested a woman near the Strovilia checkpoint regarding possession of two large-bladed clasp knives. The policemen found the woman in...

SMS for Troodos – The nature trails

The Nature Trails constitute one of the most special choices of outdoor activities and particularly during this time of year, when we have no...

Electricity Authority: New prices in place

Every year the EAC is obliged to submit to the Cyprus Energy Regulatory Authority (CERA) new tariffs for approval. The prices are calculated aiming...

Three aftershocks recorded after Thursday’s earthquake

Three aftershock measuring less than 2.5 on the Richter scale have been recorded since the big earthquake that took place on Thursday, at 16:27,...

Taste

Squash soup

Ingredients: 1 kg pumpkin, cut into small cubes, approximately 5 cups 2 medium (400g) sweet potatoes, cut into cubes, approximately 2 ½ cups 1 chopped leek, only...

Mezedes

No visit to Cyprus is complete without enjoying the traditional meal of many small dishes known as ‘meze’. This large feast, which has been a...

Prawns with fried cheese, barley shaped pasta

Put the barley shaped pasta into a small pan with salted water, bring to a boil and when tender, drain. Peal the prawns leaving...

Salmon and shrimp sheftalies

Mix all ingredients for tabbouli in a bowl and keep to one side so flavours can combine. Prepare the sheftalies: wash and soak the casing...