Real economic activity to continue to expand at robust rates, CypERC says

Real economic activity in Cyprus is expected to continue to expand at robust rates in 2018, according to the Economics Research Center of the University of Cyprus.

It says that in 2017, real GDP is estimated to have increased by 3.8%, while in 2018, growth is forecasted at 3.6%.

“While real GDP growth is predicted to reach 3.7% in the first half of 2018, it is subsequently projected to ease to 3.5% in the second half of the year,” a press release says.

It adds that the main factors driving the strong growth rates forecast in the next five quarters include: the solid improvements in domestic activity and labour market indicators in recent quarters, the steady upward trend in the level of the domestic economic sentiment indicator, the favourable external economic environment and the subdued inflation rates.

Source: CNA

Cyprus Profile

articles | 30 January 2018