articles | 14 October 2016

Cyprus' economy expands 1.7% in 2015

Cyprus’ economy expanded 1.7% in 2015 and experienced a significantly flatter recession the year before, the statistical service said citing “methodological improvements”.

In 2015, gross domestic product in current prices was €17.6m, exceeding the previous figure announced in March by €216.6m, Cystat said in a statement on its website. In 2014, Cyprus’ economic output contracted 1.5%, compared to a contraction rate of 2.5%.

“For 2014, the revision is the result of the incorporation of the annual economic surveys, while the revised data for the year 2015 is based on the most recently available economic indices,” Cystat said.

Source: Cyprus Mail

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