EU halves Cyprus 2022 GDP growth to 2.3%
Cyprus’ GDP growth will slow considerably as the war in Ukraine pushes inflation to unprecedented heights, according to the European Commission.
In its Spring forecasts on Monday, the European Commission revised its outlook for the Cypriot economy for 2022, forecasting 2.3% GDP growth for the year, just over half the 4.1% calculated in February before Russia invaded Ukraine.
“The Cypriot economy started 2022 on a strong footing, but Russia’s invasion of Ukraine and the related sanctions are expected to impact economic activity,...
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Article automatically added to our system on Monday, May 16, 2022
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