COVID19: Cyprus economy to enter ‘serious recession’

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COVID19: Cyprus economy to enter ‘serious...
 © FinancialMirror 2020

Cyprus Central Bank Governor, Constantinos Herodotou warned the economy will experience a “serious recession” in 2020 due to the coronavirus pandemic fallout but for how long is unknown.

“The economy’s prospects for 2020 and afterwards are dramatically overshadowed by the negative developments of the coronavirus pandemic,” Herodotou said in the Central Bank’s annual report for 2019.

Herodotou said the institution’s December 2019 projections had noted general downward risks for the Cypriot economy...


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This article was automatically added to our system 29-5-2020

COVID19: Cyprus economy to enter ‘serious recession’


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