Cyprus News Agency: News in English, 16-10-21

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

CONTENTS

[01] Cyprus University forecasts GDP growth 2.9% in 2016, 3.2% in 2017

[02] Irresponsible populism the main obstacle to further Cyprus growth,

FinMin says

[01] Cyprus University forecasts GDP growth 2.9% in 2016, 3.2% in 2017

The Univeristy of Cyprus` Economic Research Centre, in its quarterly Economic Outlook bulletin has predicted that the Cypriot economy will grow by 2.9% in 2016 and 3.2% in 2017.

It has warned however that there are downside risks which could negatively impact its predictions including the possibility of fallout from the Brexit decision, the high private indebtedness levels and delays in the advancement of structural reforms.

"The recovery of the Cypriot economy is estimated to strengthen as real GDP is forecasted to expand by 2.9% in 2016," the Center says in its outlook summary.

"Robust growth is expected to continue in 2017 as real GDP is projected to increase by 3.2%," it continues.

Referring to the the main drivers of the projected increase it points to the fact that real GDP continued to rise, employment growth accelerated ...

(CNA)

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[02] Irresponsible populism the main obstacle to further Cyprus growth, FinMin says

Minister of Finance Harris Georgiades said Cyprus should resist "irresponsible populism" if the island would continue the path of economic recovery and growth following the exit from a three-year economic adjustment programme.

Addressing the Limassol Econmic Forum, Georgiades pointed out that Cyprus has come a long way since the culmination of the crisis back in 2013.

The island, he said, emerged from recession and is heading towards one of the highest growth rates in the EU, operating with a balance budget since 2014 whereas unemployment is on the way down.

(CNA)

*The full text of the news item is available in the paid version of the CNA web service.

*CNA reserves the copyright to the news stories it files, which is granted to subscribers for specific use only.

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