3 May, the European Commission published a forecast for the development of the economy of Cyprus in 2018 and 2019. According to her estimate, in the current and next years, Cyprus's GDP will grow by 3,6% and 3,3%, respectively.
The Ministry of Finance of Cyprus expects economic growth at the level of 4% this year and 3,6% next.
Bank Hellenic predicts even more impressive results - an increase of 4,2% only in 2018 year.
All three structures agree that support for growth will be due to the following factors:
Do not forget about the risks. Among the main:
This makes Cyprus vulnerable to unforeseen external shocks and delays in reform.
Experts point out that economic growth will be strong and sustainable, in 2018 the state debt will grow, but in 2019 again it will decrease.