More ICT capital needed for growth

Although Cyprus, research and development investment has risen during the last decade, data shows that the R&D expenditure as a percentage of GDP is the lowest in the EU. Moreover, the disinvestment

Cyprus economic growth surrounded by risks

Cyprus’ economy is forecast to grow by 3.1% GDP in 2021, but the European Commission warned the country’s fiscal outlook is surrounded by substantial risks in its post-bailout surveillance report. “The fiscal outlook

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Cyprus GDP growth projected at 3.3% for 2021

According to the University of Cyprus Economics Research Centre, the island’s GDP growth is projected at a slower 3.3% for 2021, accelerating to 3.6% next year. April’s growth forecast for 2021 was

EU expects 3.2% Cyprus GDP growth for 2021

The European Commission expects the Cyprus economy to grow by 3.2% against a recession of 5.8% for 2020, according to its winter economic forecasts issued Thursday. GDP growth is expected to remain

Toxic loans, private debt an obstacle to growth

Cyprus is still experiencing excessive macroeconomic imbalances, involving a very high share of non-performing loans burdening banks and high private, government, and external debt, the European Commission said Wednesday. This view is