articles | 18 January 2018

Cyprus economy: Improved projections for growth until 2019 but risks remain

Growth of the Cypriot economy will continue with improved projections up to 2019, as mentioned by speakers in a panel discussion of the Cyprus Economic Society, recently, on the 'Medium term outlook, growth sustainability and financial Stability'.

At the same time, they noted that positive growth rates alone cannot solve structural problems of the economy such as Non-Performing Loans (NPLs), high private and public debt, and unemployment in certain categories.

As noted by the speakers, although good growth is projected in both 2018 and 2019, there are risks that can undermine the positive outlook of the economy, such as the large volume of NPLs, incomplete reforms and return to bad economic practices that have created problems in the economy during the past years.

Source: CNA

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