The European Commission’s Winter Interim Forecast has predicted GDP growth in Cyprus to increase by 2.8% in 2024 and by 3% in 2025, as well as a slowdown for inflation to 3.9% in 2023 (from 8.1% in 2022), mainly due to lower energy prices, as well as inflation moderating to 2.4% in 2024 and to 2.1% in 2025.