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.
Continue reading at source: Gold News
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