Finance minister says economy in ‘virtuous circle,’ to grow 4% this year

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Finance minister says economy in ‘virtuous...
 © BusinessMail 2017
By Stelios Orphanides

Finance Minister Harris Georgiades said the Cypriot economy will expand 4 per cent this year, up from a previous forecast of 3.5 per cent, and will continue growing an average 3 per cent over the next three-year period.

The finance minister, who was addressing lawmakers in his annual budget speech, said that the government, whose term expires in February, aims at reducing unemployment to a single digit and ultimately achieve full employment by 2020, from 10.2 per cent in October.

The budget, which provides for €7.5bn in spending and €7.7bn in revenue,...


Finance minister says economy in ‘virtuous circle,’ to grow 4% this year


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