EU Commission: Economic growth in Cyprus has exceeded expectations in recent quarters

The European Commission expects "growth surprises on the upside" concerning the economy of Cyprus, according to the title of the Cyprus chapter of the Autumn Economic Forecast that was recently published.

According to the Commission "economic growth has exceeded expectations in recent quarters".

More specifically "It is forecast to reach 3.5% in 2017 and to ease but remain robust over 2018 and 2019". The Commission says that "domestic demand is expected to be the main growth driver", while "unemployment is set to continue falling and inflation is expected to remain moderate". According to the EC, "on the fiscal side, headline surpluses are expected between 2017 and 2019, underpinned by a favourable macroeconomic environment".
Source: CNA

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