{"id":5,"date":"2007-11-01T14:09:22","date_gmt":"2007-11-01T12:09:22","guid":{"rendered":"http:\/\/hardouvelis.com\/?p=5"},"modified":"2023-08-02T16:03:14","modified_gmt":"2023-08-02T13:03:14","slug":"the-economy-of-cyprus-an-overview","status":"publish","type":"post","link":"https:\/\/hardouvelis.gr\/el\/the-economy-of-cyprus-an-overview\/","title":{"rendered":"The Economy of Cyprus: An Overview &#8211; November 2007"},"content":{"rendered":"<p><strong>The Economy of Cyprus: An Overview<\/strong><br \/>\nAuthors: G. Hardouvelis, C. Vorlow, E. Davradakis, E. Georgopoulos, I. Gkionis, T. Sabaniotis<br \/>\n<em>Publications: Economy &amp; Markets, Issue 9, Volume 2, November 2007<\/em><\/p>\n<p><strong>Key points:\u00a0<\/strong><\/p>\n<ul>\n<li>Euro area membership as of January 2008 is expected to promote\u00a0Cyprus as an international business hub in the Eastern Mediterranean.<\/li>\n<li>The favorable macroeconomic environment, the continued rise in loan\u00a0demand and the containment of operating costs contribute to strong\u00a0bank profitability.<\/li>\n<li>The rebound in the sectors of financial intermediation and tourism\u00a0together with the hot property market underpins the recent growth\u00a0performance of 3.8%.<\/li>\n<li>Fiscal consolidation is on track with the general government deficit\u00a0declining from 6.3% of GDP in 2003 to 1.5% in 2006, and the\u00a0government debt from 69% of GDP in 2003 to 65% in 2006.<\/li>\n<li>The current account deficit deteriorated from 2.0% of GDP in 2003 to\u00a05.9% in 2006, reflecting higher oil prices and strong domestic\u00a0consumer demand.<\/li>\n<li>VAT harmonization is expected to add one percentage point to inflation\u00a0in 2008-2009.<\/li>\n<\/ul>\n<p><a href=\"http:\/\/hardouvelis.gr\/wp-content\/uploads\/2018\/04\/Eurobank-Research-Economy-Markets-Special-Focus-on-Cyprus.pdf\" target=\"_blank\" rel=\"noopener\">Download Article<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>The Economy of Cyprus: An Overview Authors: G. Hardouvelis, C. Vorlow, E. Davradakis, E. Georgopoulos, I. Gkionis, T. Sabaniotis Publications:<\/p>\n","protected":false},"author":1,"featured_media":4399,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[3259,9],"tags":[],"yst_prominent_words":[1684,1730,102,1688,1731,111,335,1683,1727,1504,1676],"class_list":["post-5","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-cypriot-economy-analysis","category-economic-analysis"],"acf":[],"_links":{"self":[{"href":"https:\/\/hardouvelis.gr\/el\/wp-json\/wp\/v2\/posts\/5","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/hardouvelis.gr\/el\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/hardouvelis.gr\/el\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/hardouvelis.gr\/el\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/hardouvelis.gr\/el\/wp-json\/wp\/v2\/comments?post=5"}],"version-history":[{"count":1,"href":"https:\/\/hardouvelis.gr\/el\/wp-json\/wp\/v2\/posts\/5\/revisions"}],"predecessor-version":[{"id":4375,"href":"https:\/\/hardouvelis.gr\/el\/wp-json\/wp\/v2\/posts\/5\/revisions\/4375"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/hardouvelis.gr\/el\/wp-json\/wp\/v2\/media\/4399"}],"wp:attachment":[{"href":"https:\/\/hardouvelis.gr\/el\/wp-json\/wp\/v2\/media?parent=5"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/hardouvelis.gr\/el\/wp-json\/wp\/v2\/categories?post=5"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/hardouvelis.gr\/el\/wp-json\/wp\/v2\/tags?post=5"},{"taxonomy":"yst_prominent_words","embeddable":true,"href":"https:\/\/hardouvelis.gr\/el\/wp-json\/wp\/v2\/yst_prominent_words?post=5"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}