Cypriot economy to expand by 3 pct in 2019
0 Comment(s)
Print
E-mail Xinhua, November 15, 2019
NICOSIA, Nov. 15 (Xinhua) -- The Cypriot economy is expected to expand by more than 3 percent this year, data from the Cyprus Statistical Service (Cystat) showed on Thursday.
After seasonal adjustments, Cystat estimated a 3 percent economic growth for the third quarter on a year-on-year basis, down from 3.1 percent in the second quarter. The drop was due to a slowdown in the financial and insurance sectors.
Meanwhile, the European Commission estimated in its autumn projections that the 2019 growth for Cyprus will stand at 2.9 percent, with a further drop to 2.6 percent in 2020.
The International Monetary Fund revised down its projections for the Cypriot economic growth to 3.1 percent in 2019 from a 3.5 percent growth projection in April, and downgraded its 2020 projection to 2.9 percent from 3.3 percent six months ago. Enditem
Go to Forum >>0 Comment(s)