Cyprus Quarterly Economic Outlook
Authors: G. Hardouvelis, I. Gkionis
Publication: August 2017, Year 2, Issue 3
Key points:
- The economy expanded in Q1-2017 by 3.3% on an annual basis, the fastest pace in the post-Lehman period
- The economy’s solid performance continued into the second quarter of 2017 with encouraging signs across most sectors, including the real estate sector
- Cyprus tapped the international markets for the second time since graduation from its Economic Adjustment Programme at the lowest yield in the history of the Republic
- Both Moody’s and DBRS upgraded the long-term sovereign rating of Cyprus Republic, Moody’s in late July by one notch and DBRS in early June by two notches, both now placing Cyprus three notches away from investment grade
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