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'Cypriot economy out of 2013 cardiac arrest'
September 24, 2018
Cyprus’ economy has come out of the 2013 “cardiac arrest” and posted four years of growth, Bank of Cyprus CEO John Patrick Hourican said in an interview with Bloomberg television on Friday night, a statement echoed both by the Hellenic Bank CEO Ioannis Matsis and Finance Minister Harris Georgiades in similar interviews.
Asked why now is the right time to invest in Cyprus, Hourican said: “We moved from a junk status backed to investment grade.”
He added that the island’s economy is growing well, unemployment has fallen, and that house prices were stabilising and rising.