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Author: Stelios Orphanides

Category: Press

Publication: 15 May 2017


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University of Cyprus expects economy to expand 3.1% in 2017

Cyprus Coop-bank

The University of Cyprus said it expects the economy to expand 3.1 per cent this year, boosted by an unusually strong economic performance in the first quarter, and consumer prices to rise 1.7 per cent.

“In the first quarter of 2017, real GDP (gross domestic product) is projected to rise (an annual) 3.5 per cent and in the second quarter, GDP growth is forecasted at 3.1 per cent, the Economic Research Centre (ERC) of the university said in a statement on its website on Wednesday.

“In the second half of 2017, real activity is forecasted to grow 3 per cent. The projected inflation rate in 2017 also reflects base effects due to the relatively low general price level registered in 2016”.

Read the full article : http://cyprusbusinessmail.com/?p=44479