articles | 14 February 2014

Cyprus GDP -5.3% year-on-year

Cyprus’ economy contracted 1.0% in the last quarter of the year on a quarterly basis, flash data showed recently, leaving a yearly contraction of 5.3%.

The figure beat finance ministry assessments of a recession of 5.5% for 2013, and a forecast of 6.0% by international lenders, who came to Cyprus’ aid with a €10 billion loan in early 2013. The island’s statistics department said Cyprus registered contracting rates in most sectors, with the exception of tourism.

Source: Cyprus Mail

Cooperation Partners
  • Logo for Invest Cyprus
  • Logo for Association of Cyprus Banks
  • Logo for Cyprus Investment Funds Association
  • Logo for Cyprus International Businesses Association
  • Logo for Ministry of Energy, Commerce, Industry and Tourism
  • Logo for Love Cyprus Deputy Ministry of Tourism
  • Logo for Cyprus Shipping Chamber
  • Logo for CYFA Cyprus
  • Logo for Cyprus Chamber of Commerce and Industry