The International Monetary Fund (IMF) recently revised downward its 2019 growth forecast for Cyprus to 3.5% from its October estimate of 4.2%.
For 2020, the IMF expects the economy to grow by 3.3%.
Inflation will reach around 0.5% this year against 1.8% forecast in October. In 2020 it is expected to rise to 1.6%.
The IMF also foresees a gradual reduction in unemployment. The fund said it expects unemployment to drop by 1.4% in 2019, to 7%. Next year unemployment will fall further to around 6%, the IMF said.
Source: Cyprus Mail
