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The benefits from the consequent recovery of property prices has started to trickle into the local banking sector. The challenge is to structure and promote products that complement traditional deposits, while being able to offer solutions to the corporate sector and individuals alike in a form that avoids repetition of past mistakes.
Cyprus has achieved another year of remarkably strong growth in 2018. We expect that this positive development will continue in 2019 driven by strong growth of domestic demand and exports of services, as well as continuous flow of new investments into hotels, commercial and residential real estate and energy projects.
We can now be more optimistic about the near future but at the same time must remain vigilant against risks to growth.
Cyprus is an excellent investment destination and a highly competitive international business centre, whose many comparative advantages set it apart from most jurisdictions