European Commission expects recovery slowdown without reforms

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European Commission expects recovery slowdown...
 © BusinessMail 2017
By Stelios Orphanides

Cyprus needs to get back to reforming its economy in order to consolidate economic growth in the long run and safeguard the sustainability of public finances, the European Commission said.

“The economic recovery in Cyprus has gathered further strength, but sustaining growth over the medium term will require renewed reform momentum, continued fiscal discipline and acceleration in the resolution of non-performing loans,” the Commission said in its third post-programme surveillance report on its website.

The economy, which expanded last year 3 per cent and 2...


European Commission expects recovery slowdown without reforms


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