EBRD revises Cyprus’s growth forecast to 3.2%

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EBRD revises Cyprus’s growth forecast to 3.2%
 © BusinessMail 2018
By Stelios Orphanides

The European Bank of Reconstruction and Development (EBRD) said that it had revised its forecast for the Cypriot economy to 3.2 per cent for 2018 from a previous 2.5 per cent.

In 2019, economic growth is expected to slow down to 3 per cent, the EBRD said in a statement on its website on Wednesday.

“However, the legacies of the crisis, such as high public and private sector debt and a large overhang of non-performing loans (NPLs), remain important downside risks,” said the lender which has a 5 per cent stake in Bank of Cyprus and 5.4 per cent in Hellenic...


EBRD revises Cyprus’s growth forecast to 3.2%


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