Cyprus likely to contract 7.75 pct, raises 1...
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Cyprus’ economy faces significant downside risks due to the coronavirus crisis, with tourism being impacted the most, according to a European Commission report released on Tuesday. In its Summer 2020 Economic Forecast, the European Commission said that Cyprus’ tourism revenues are expected to be only 25 percent of last year’s level, which stood at 2.683 billion euros (3.03 billion U.S. dollars), according to the Statistical Service of Cyprus. Tourists have started to trickle in since flights resumed...
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