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EU Commission forecasts strong growth momentum in Cyprus for the next two years
CNA - Athanasios Athanasiou - Belgium/Brussels 07/02/2018 13:34


Growth in Cyprus for 2017 will peak at 3.8% and will continue expanding at 3.2% and 2.8% for 2018 and 2019, according to the European Commission (EC), making Cyprus "one of the fastest growing economies in the euro area," while wages, employment and consumption will continue to expand, even if export and tourism may slow down due to capacity constraints.

The EC forecasts a "Strong Growth Momentum" for Cyprus in its new release of the Winter Interim Economic Forecast, published today in Brussels by Commissioner Pierre Moscovici.

The European Commission DGECFIN (the responsible directorate general in its structure that compiled this report) notes that "Cyprus is experiencing a very strong recovery," while "quarterly GDP growth in the third quarter of last year was just as solid as in the first half of the year", furthermore stating that "available ‘soft’ and e

(CNA)

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