articles | 10 October 2017

Cystat revises 2016 growth rate to 3%

Cyprus' economy, the euro area’s second smallest, expanded by 3% in real terms last year, 0.2 points higher than the forecasted 2.8% announced in March of 2017, the statistical service said.

In nominal terms, last year’s economic output rose an upwards-revised 2.1% to €18.1bn, compared to an initial estimate of 1.5%, Cystat said in a statement on its website on Tuesday.

Cystat also revised the 2015 real growth rate to 2% from a previous 1.7%.

Source: Cyprus Mail

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