Cyprus Quarterly Economic Monitor
Authors: G. Hardouvelis, I. Gkionis
Publication: December 2016, Year 1, Issue 3
Key points:
- The economy’s solid performance continued into the third quarter of the year
- Both S&P and Fitch upgraded the long-term sovereign rating of Cyprus Republic
- Cyprus qualifies for further sovereign rating upgrades as long as it remains focused on reducing NPLs and is committed to structural reforms
- Fiscal consolidation achievements in the 2013-2015 MoU era allow for greater policy flexibility in the medium-term without compromising debt sustainability
- The European Commission confirmed the fiscal targets of 2017 in the Draft Budgetary Plan, yet warned Cypriot authorities of deviations from the desirable structural fiscal target of zero
Download Cyprus Quarterly Economic Monitor, Year 1| Issue 3 pdf