COVID19: Cyprus economy to suffer ‘severe contraction’ in 2020

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COVID19: Cyprus economy to suffer ‘severe...
 © FinancialMirror 2020

University of Cyprus economists expect the country’s coronavirus-stricken economy to shrink by 6.9% of GDP in 2020 under a baseline scenario and contract 13.1% under more adverse conditions.

UCY Economics Research Centre in its May outlook said economic activity will shrink significantly this year as a result of the COVID-19 pandemic.

Real GDP is projected to decline by 6.9% in 2020 below the baseline scenario. In the worst-case scenario, which assumes a longer adjustment period and a larger...


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This article was automatically added to our system 11-5-2020

COVID19: Cyprus economy to suffer ‘severe contraction’ in 2020


The contents of this article including any associated images are © FinancialMirror 2020
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