Cyprus News Agency: News in English, 10-10-06

Cyprus News Agency: News in English Directory - Previous Article - Next Article

From: The Cyprus News Agency at <http://www.cyna.org.cy>

CONTENTS

[01] PRESIDENT MEDVENDEVS VISIT

[02] CYPRUS RECESSION EXIT

[01] PRESIDENT MEDVENDEVS VISIT

President Christofias said he considers Medvedevs visit as a great success of the government which he hopes will be appreciated. The visit, he pointed out, is an historic event which is related to the longstanding common tradition between the peoples of Russia and Cyprus, which will be reaffirmed.

The very close political, financial and cultural relations between the two countries will also be reaffirmed during the visit, he added. It will mean a lot for the Cyprus problem as well as for the Republic of Cyprus as an independent state and surely for the course of the development of these multilateral relations between our countries, he added.

Christofias noted the fact that there is a large dynamic Russian community in the southern coastal town of Limassol, which does business in favour of the two peoples and their countries.

[02] CYPRUS RECESSION EXIT

Eurostat also proceeded with an upward revision of its initial estimates on the GDP development in the second quarter as well as on an annual basis.

In the second quarter Cyprus` GDP increased by 0.6% slightly higher than the 0.4% projected by Eurostat`s interim forecasts released in August. Compared to the same period of 2009, Cyprus` GDP increased by 0.2% as opposed to Eurostat`s 0.2% GDP decline estimate released last August.

On an EU-wide basis GDP increased by 1% on a quarterly basis and by 2% year on year, improving the initial forecasts for 1.9%. The Euro area`s GDP increased by 1% on quarterly basis and by 1.9% on an annual basis.

Cyprus News Agency: News in English Directory - Previous Article - Next Article