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Island's economy now in growth phase says Hellenic
November 21, 2018
Cyprus’ macroeconomic outlook is positive with growth expected to reach 4 per cent in 2018 and 3.9 per cent in 2019, Hellenic Bank said on Tuesday.
In its review for the fourth quarter of the year, Hellenic’s department of economic research said the island’s phase of recovery from the 2013 collapse has passed and the economy was now entering its growth phase.
In a news release, the bank said it expects a positive macroeconomic outlook accompanied by “a significant increase in real gross domestic product during the first nine months of 2018, robust employment growth, and further improvement in key domestic indicators.”