Fitch affirms Cyprus’ long-term credit rating at BBB- with stable outlook

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Fitch affirms Cyprus’ long-term credit rating...
 © In-Cyprus 2022
International rating agency Fitch affirms Cyprus’ long-term credit rating at BBB- with a stable outlook.

It also noted in an press release late on Friday that the island’s institutional strength and record of robust economic growth and sound fiscal policy prior to the Covid-19 pandemic are balanced by balance-sheet weaknesses, in particular high public debt, and a weak banking sector.

The agency forecasts a real GDP growth of 4.8% this year, partly due to strong base effects. And a gradual normalisation of growth rates in 2022 and 2023 of 3.7% and 2.9%, respectively, following a downturn of...


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Article automatically added to our system on Saturday, September 25, 2021

Fitch affirms Cyprus’ long-term credit rating at BBB- with stable outlook


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