Friday April 25, 2014 Search
Weather | Athens
21o C
15o C
News
Business
Comment
Life
Sports
Community
Survival Guide
Greek Edition
Cyprus on the road to ‘new economic miracle’

Cyprus is on the road to a “new economic miracle” following a near meltdown last year that was prevented by a 10-billion-euro international bailout, President Nicos Anastasiades said on Wednesday.

“It seems that Cyprus is on the road to a new economic miracle, and this has not escaped the attention and appreciation of international creditors or the international press,” the president said during an exports award ceremony.

Even a harshly critical German financial press has changed its tune over Cyprus, he said, after some claimed the Mediterranean island’s banks had been laundering dirty Russian money.

“After many negative reports in recent months, the German press is now obliged to praise Cyprus’s effort to advance the necessary reforms. They report that Cyprus has now fully achieved its objectives from the beginning of the program,” said Anastasiades.

He said the latest evaluation of the economy by the troika foresees a primary deficit this year of 277 million euros, or 1.8 percent of GDP, a figure significantly lower than the 483 million euros previously forecast.

At the same time, they said the recession-hit economy contracted 5.3 percent in 2013, a lot less than the 8.7 percent projected at the time of the bailout.

The last Cypriot economic “miracle” was during the boom years of the 1980s, when the country overcame the devastating effects of the 1974 Turkish invasion.

[AFP]

ekathimerini.com , Wednesday February 19, 2014 (20:53)  
Ellaktor lands major Doha metro project
World seeks produce from Greece
Eurobank opens book for capital increase
Gov’t presents its growth model for the coming years
Work at new Athens cultural center gathering pace
It was revealed on Thursday that the outer shell of buildings at the Stavros Niarchos Foundation Cultural Center should be completed by July 28. The planting of trees and shrubs on the 17-he...
Greece makes request for debt relief as loan tranche approved
Greece made its first official request on Thursday for further debt relief as the Euro Working Group (EWG) met in Brussels to rubber-stamp the 2013 primary surplus and approve the release of...
Inside News
SOCCER
4,000 officers to police Greek Cup final
Police says it will ban mass gatherings in central Athens amid heavy security measures planned for Saturday's Greek Cup final between Panathinaikos and PAOK at the Olympic Stadium. More than...
BASKETBALL
Never underestimate the Greek hoopsters
Olympiakos and Panathinaikos, who between them have won the last three European crowns, won again at home on Wednesday to take their Euroleague play-off series with Real Madrid and CSKA Mosc...
Inside Sports
COMMENTARY
At the mercy of fools
The death of a young man at an Easter lunch in a village near Rethymno on Crete and the very serious injury of an American guest at a Resurrection ceremony on Santorini must not be forgotten...
COMMENTARY
Putting the party above the country
The case of Sabiha Suleiman, the Roma activist whose candidacy for the European Parliament was announced by SYRIZA only to be withdrawn shortly afterward, is an illustration of the leftist o...
Inside Comment
SPONSORED LINK: FinanzNachrichten.de
SPONSORED LINK: BestPrice.gr
 RECENT NEWS
1. Ellaktor lands major Doha metro project
2. World seeks produce from Greece
3. Eurobank opens book for capital increase
4. Gov’t presents its growth model for the coming years
5. Work at new Athens cultural center gathering pace
6. Greece makes request for debt relief as loan tranche approved
more news
Today
This Week
1. Ellaktor lands major Doha metro project
2. Putting the party above the country
3. Three missing from cargo ship that went down off Crete
4. Central Athens cleanup a sign of Greece's turnaround
5. Strong card in debt talks
6. Samaras meeting with Dimon key to Greek return to bond markets
Today
This Week
1. Greece startup leaders say they can’t break jobless cycle alone
2. Ground-breaking Good Friday mass signals thaw in Cyprus
3. Mayoral candidates clash over Athens mosque plans
4. Putting the party above the country
5. Government looks to kick on
6. Greece offers to help find Turkish F-16 lost in 1996
   Find us ...
  ... on
Twitter
     ... on Facebook   
About us  |  Subscriptions  |  Advertising  |  Contact us  |  Athens Plus  |  RSS  |   
Copyright © 2014, H KAΘHMEPINH All Rights Reserved.