The economy shrank for the 14th consecutive quarter between October and December 2014, albeit at a slower pace, compared to the same quarter in 2013, suggesting that the recession would be lower than Troika's estimates for 2014.
According to figures released by the Statistical Service, the GDP growth rate in real terms during the fourth quarter of 2014 is estimated at -2.0% over the corresponding quarter of 2013.
Source: Famagusta Gazette
