Sunday, March 13, 2016

Cyprus economy growing fastest in years


Τhe GDP growth rate of Cyprus economy rose at the highest level in recent years in the fourth quarter of 2015, according to figures released Thursday by the Statistical Service of Cyprus.

Τhe GDP growth rate in real terms during the fourth quarter of 2015 is estimated at 2.5% over the corresponding quarter of 2014. Based on seasonally and working day adjusted data, GDP growth rate in real terms is estimated at 2.7%. 

A growing economy should help Bank of Cyprus wade through their delinquent loan issues as the ability of borrowers and debtors to service debt will improve.

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