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Strong growth momentum continues in Cyprus, according to Commission Autumn forecast
CNA - Athanasios Athanasiou - Belgium/Brussels 08/11/2018 12:47


The European Commission forecasts the maintaining the dynamics of robust economic activity in Cyprus, with growth rates reaching 3.9% in 2018, 3.5% in 2019 and 2.9% in 2020, in its autumn economic forecasts that it made public in Brussels today.
 
According to the forecast package presented by Commissioner Pierre Moscovici, in Cyprus public debt is declining from 105% in 2018 to 98.4% in 2019 and 91% in 2020, while the budget will have a surplus of + 2.8% , + 3% and + 2.9% for the current and the next two years and inflation will reach 0.8%, 1.3% and 1.4%, respectively.
 
At the same time, the Commission predicts a sharp decline in unemployment from 8.2% in 2018 to 6.3% in 2019 and 4.8% in 2020.

The Commission, though, warns, that "risks to the fiscal outlook are tilted to the downside, linked to the uncertainties on the potential 2018 deficit-i

(CNA)

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