International credit rating agency DBRS Morning Star projects that the Cypriot economy’s growth rate will be at 4.3% in 2021 and will recede slightly at 4.1% in 2022.
The projections are included in a commentary on the baseline macroeconomic scenarios for rated sovereigns which it published on Wednesday.
The credit rating agency’s basis scenario for Cyprus is more conservative than an estimate by the Ministry of Finance following the publication of official data for the GDP growth in the second quarter of 2021, that growth is expected to be significantly greater than an initial estimate of 3.7% or an estimate by the Minister of Finance Constantinos Petrides that growth rate for the year will be over 5.5%.
On unemployment in Cyprus the rating agency projects that it will be 7.8% this year and will drop to 7% in 2022.
Source: Cyprus News Agency