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Cyprus should exploit growth momentum to carry out structural reforms, Hellenic Bank says
CNA - CYPRUS/Nicosia 25/06/2019 13:30

Cyprus should exploit the current favourable growth momentum to implement structural reforms that would boost the competitiveness of the economy, Hellenic Bank’s Department of Economic Research said in its bi-annual economic review for the first half of 2019.
The department’s baseline scenario forecasts a growth rate of 3.4% in 2019 and 3.2% in 2020 with unemployment rate declining to 6.6% this year and inflation in the region of 1%.
Hellenic notes that the economy “recovery phase has passed and the economy is settling into its growth phase,” describing as encouraging the fact “that the recent economic performance has not been driven by government public spending and the related multiplicative role, nor is it funded from unsustainable credit-fueled consumption as observed in the pre-crisis period helping to avoid the repeat of the boom-bust cycle experienc


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