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Wednesday, May 22, 2024

DISY: Statement of Press Representative Mr. Onofrios Koullas on interest rates

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ΔΗΣΥ: ΔorλωσΕ κπροσωπου Τύπου κ. Ονούφριου Κου&lambda ;λα για τα επιτοκια

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Comparable data on interest rates within the Eurozone show that the difference between lending and deposit rates in Cyprus is one of the highest. These figures, as well as the bank profits already announced, demonstrate the potential for easing the consequences for both borrowers and depositors, something that the Democratic Alert has pointed out repeatedly in recent months.

We estimate that the increased lending rates will further burden the slowing growth of the economy. Without taking measures, such as proactive restructuring and reducing lending rates, they may create a new wave of non-performing loans.

We expect the government and the Central Bank to take initiatives to limit the negative impact on borrowers and depositors. Democratic Alarm is ready to discuss any measure in the right direction.

We repeat that the difference between lending and deposit rates, based on today's data, provokes society and has adverse effects on economic activity.

Source: 24h.com.cy

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