Cyprus and International, Economic Analysis

The Cypriot Economy in 2016 – Quarterly Economic Monitor

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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