The amount related to uncollected fine warrants in the Republic of Cyprus is causing concern.According to official data from the Ministry of Justice, the total amount is €300 million, with €256 million related to debts owed to the state. These uncollected fines span 43 years (since 1980).Over time,
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Cyprus: EU sanctions against Russia hurt tourism
October 16, 2014
Cyprus’ tourism is suffering a blow from Russian arrivals since the EU measures against Moscow over the Ukraine crisis have been imposed, according to the Cyprus Tourism Organization.
Cyprus’ tourism is suffering a blow from Russian arrivals since the EU measures against Moscow over the Ukraine crisis have been imposed, according to the Cyprus Tourism Organization.
CTO said on Wednesday that with the Russian ruble’s devaluation arrivals in 2015 are expected to fall between 15% and 20%.
This assumption is based on 2014’s tourism figures from Russia which show that outgoing tourism has dropped by 30%. And in 2015, the number is expected to drop between 40% and 50%.