Total imports of goods in February 2024 were €841,1 mn as compared to €770,5 mn in February 2023, recording an increase of 9,2%. Imports from other EU Member States were €543,8 mn and from third countries €297,3 mn, compared to €536,2 mn and €234,2 mn respectively in February 2023. Imports in February 2024 include the transfer of economic ownership of vessels, with total value of €1,9 mn as compared to €56,8 mn in February 2023.

Total exports of goods in February 2024 were €243,1 mn as compared to €260,8 mn in February 2023, recording a decrease of 6,8%. Exports to other EU Member States were €116,2 mn and to third countries €126,9 mn, compared to €65,1 mn and €195,7 mn respectively in February 2023. Exports in February 2024 include the transfer of economic ownership of vessels, with total value of €21,7 mn as compared to €87,6 mn in February 2023.

Total imports of goods in January–February 2024 amounted to €1.698,4 mn as compared to €2.505,6 mn in January–February 2023, recording a decrease of 32,2%. Total exports of goods in January-February 2024 were €554,1 mn compared to €576,0 mn in January–February 2023, registering a decrease of 3,8%. The trade deficit was €1.144,4 mn in January–February 2024 compared to €1.929,6 mn in the corresponding period of 2023.

View the full announcement here (PDF)

This is the weekly information bulletin, for the week up to 29/3/2024 with comprehensive briefing in matters of direct and indirect taxation.

PDF – KEBE Tax Update to 29 03 24

We wish to inform you that after the relevant approval of the Council of Ministers, the Ministry of Energy, Commerce, and Industry announced the Circular Economy Funding Scheme for Small and Medium Enterprises.

The Scheme will be funded by the Recovery and Resilience Facility of the European Union, with the total amount of funding amounting to €14.4 million and with the maximum total amount of funding per company amounting to €400,000.

The Plan aims to support existing and new Small and Medium Enterprises through the promotion of new circular economy investments so that these enterprises will make their products, production processes, and business practices more environmentally friendly. The funding will concern defined eligible costs related to the transition/start-up of a business based on a circular business model.

Interested parties can obtain the Plan Guide, which includes all the details, by clicking here. The deadline for submitting the relevant application will be announced at a later stage.

To better inform you, the CCCI in cooperation with the Ministry will organize a presentation during which the provisions of the Plan will be explained and all relevant questions will be answered.
The date and venue will be announced in due course.

For more information on the Scheme please contact the Competent Officer of the Ministry at 22867247.

PDF Circular – Circular Economy Funding Scheme for Small and Medium Enterprises

1)CONSUMER PRICE INDEX (CPI): MARCH 2024 – Inflation 1,2%

In March 2024, the Consumer Price Index increased by 0,48 units and reached 115,41 units compared to 114,93 units in February 2024. In March 2024, the inflation increased by 1,2%.

View the full announcement here (PDF)

2)Registered Unemployed Mar 2024

The unemployed persons, registered at the District Labour Offices on the last day of March 2024, reached 12.277 persons. Based on the seasonally adjusted data that show the trend of unemployment, the number of registered unemployed for March 2024 decreased to 11.476 persons in comparison to 11.614 in the previous month.

View the full announcement here (PDF)

PDF Circular – Tender for the Procurement of Ducts and Components Made of Ductile Iron and other Related Components