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EU Forecasts For Cypriot GDP In 2022 And 2023 In Line With Our Forecasts, Finance Ministry Says
May 18, 2022
The European Commission forecasts for Cypriot GDP for 2022 and 2023, at 2.3% and 3.5% respectively, are in line with the latest forecasts of Cyprus Ministry of Finance, which forecast growth of 2.7% and 3.8%, showing the resilience of the Cypriot economy in times of crisis, the Ministry of Finance said in a press release on Tuesday.
The European Commission's spring forecast, released on Monday, says that after a strong 5.5% recovery in 2021, economic activity is expected to slow down to 2.3% in 2022, due to the negative effects of the Russian invasion in Ukraine and the substantial rise in inflation.