The Cypriot Economy in 2016 – Quarterly Economic Monitor
Eurobank Cyprus Research
February 2017
Key points
- In 2016 the Cypriot economy took off, solidifying and speeding up the
previous year’s recovery, leaving far behind the crisis years - In 2016 Cyprus also exited the 2013 Economic Adjustment Program
- There is consensus among private and official forecasters the growth
momentum will carry into 2017, with risks – in our view – skewed to the
upside - Trend growth is likely to remain solid over the following years,
assuming reforms continue hand in hand with growth preserving
macroeconomic policies - The main risks ahead are concentrated in the financial sector and the
ability to quickly reduce the high NPL ratio
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