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26.02.2014

EC outlines the end of the recession in the economy of Cyprus next year

The report prepared by the European Commission "Winter economic forecast - 2014» was improved outlook for economic growth in the eurozone, were also present estimates of the situation in the economy of Cyprus.

Cyprus economy shrank by 6% in 2013 According to experts, the EC, 2014 of recession in Cyprus will continue. It is expected that the country's GDP will shrink by 4,8%. The unemployment rate in Cyprus this year will rise to 19,2% (with 16 2013% in y).

Projected improvement in 2015, when the island's economy come out of recession, and growth rate of 0,9%.

A source:

Tags: Cyprus, Economy, European Commission, Statistics