European Commission Releases Positive Cypriot Predictions

November 4, 2014
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The European Commission's Autumn Economic predictions believe that Cyprus will experience a 1.6% growth rate in 2016.

The EC's analysis stated that the nation will surpass its recession next year and hold a 0.4% growth rate, while its GDP will decrease by 2.8% this year. The EC claimed that the island's public deficit this year will be 2.8% concerning its GDP, while next year will hold 3.0%, followed by 2016's 1.4% rate.

Public debt will hit 107.5% of its GDP this year, 2015 will bring 115.2%, and 2016 will reach 111.6%. The EC forecasted that unemployment figures will lessen to 16.2% this year, 15.8% next year and 14.8% the following year. Inflation figures are predicted at 0.8% for 2014, 1.8% for 2015, and 2.5% in 2016, as reported by Parikiaki.

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