EBRD more upbeat for Cyprus’ growth rate in 2018

The European Bank for Reconstruction and Development revised significantly its projection for Cyprus’ growth rate this year, in the context of a wider upward revision of its forecasts for the EBRD regions.

EBRD estimates that the Cypriot economy will grow by 3.2% in 2018, up by 0,7% compared with the November 2018 projection.

The EBRD has revised up economic forecasts for 2018 as a broad-based recovery continues across its regions, bolstered by stronger investment activity and higher exports, the EBRD said in its 2018 economic forecasts.

EBRD estimates that Cyprus’ growth rate will moderate to 3% in 2019.

Source: Cyprus News Agency