Reports on current economic developments in the Cypriot economy.
Hellenic Bank’s Economic Review: First Quarter 2018
The Cypriot economy continues to surprise
Hellenic Bank estimates that the Cypriot economy will grow at a rate of 4.2% in 2018. Growth is expected to be supported by private consumption and investment and by an improving and robust labour market. Unemployment is expected to decline to 9,2% in 2018, while inflation to remain at relatively low levels, at around 0,5%.
Cyprus has achieved an impressive turnaround following the
2013 economic crisis as the recovery continued strengthening
for twelve consecutive quarters. The broad-based
economic recovery gathered pace in 2017, with real GDP
increasing by an annual 3,9%; the best growth performance
for almost a decade. The recovery has been broad-based and
has contributed to the increase of employment in almost all
sectors and to the reduction of unemployment, though still