Cyprus growth to pick up in 2024, 2025 after 2023 slowdown
As a result of the negative influence of the continuing Ukraine conflict, Cyprus’ economic growth is expected to fall to 2.5% in 2023, the Central Bank of Cyprus (CBC) said on Friday.
However, it is projected to bounce back in 2024 and 2025 by 3.1% each year, CBC said in its end-of-year economic report.
The economy will register growth of 5.8% this year, compared to 6.6% in 2021, predicted the CBC.
It added that inflation will reach 8.1% this year, compared to 2.3% in 2021. [Xinhua]
