Sunday, August 9, 2015
Cyprus economy to grow more than orignally forecast
Cyprus is expected to more than double its projected economic expansion this year due to a number of favorable factors, the Economic Research Center (ERC) of the University of Cyprus said in its August economic outlook review published Tuesday.
ERC said it expects the economy to grow by 1.1 percent at the end of 2015 after shooting up by 1.8 percent in the second half of the year.
The projected growth is more than double the 0.5 percent expansion forecast of the troika technocrats who concluded their seventh review of the Cypriot economy in mid-July.
Continued recovery in the Cypriot economy will lead to recovery in the prospects for The Bank of Cyprus. As the CEO of the bank recently said, the banks survival is certain now it is time to see what the bank is really worth. I continue to like the bank as an investment.