The European Commission expects the economy of Cyprus to grow by 3.2% and 3.1% for 2021 and 2022 respectively, against a recession of 5.8% for 2020, according to its winter economic forecasts published today in Brussels.
More specifically, the European Commission notes that “the real GDP rebounded strongly in the third quarter of 2020 (+9.4% compared to the second quarter)”, and “this rebound was driven by domestic demand, which was mainly underpinned by fiscal stimulus, while exports of goods and services decreased”.
Continue reading at source: in-cyprus
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