Publications, Presentations , Macroeconomics, MINISTRY OF FINANCE

Παρουσίαση Γενικού Διευθυντή στο Discussion Forum του Cyprus Economic Society

The Cyprus economy is in transition, which necessitates to refocus its path for stabilization and growth. In this context, the discussion will look int the fiscal dynamics among other things; the prerequisites for debt sustainability and tax reform; economic structure and the diversification of the economic base; the nature of the current account; the significance of climate change and the impact on the Cyprus economy in the short- and the long-run. The discussion will also review the Implementation of the Cyprus’ Recovery and Resilience Plan. ...more

Macroeconomic Outlook - March 2024

Economic activity in 2021-2022 recovered strongly following the COVID-19 pandemic (GDP returned end 2021Q1) by 9.9% and 5.1% respectively. 2023 growth by 2.5% point to a continued resilience and flexibility, amid the war/sanctions. Growth is among the highest among member states and significantly higher than the EA/EU average (CY 2.5% in 2023 vs. EA/EU around 0.4% y-o-y %).
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Macroeconomic Outlook - October 2023

Main Messages
-Economic activity in 2021 recovered following the COVID-19 pandemic, with the GDP increasing by 6.6%.
-Labour market developments showed resilience and flexibility, conditions improved.
-Inflation increased due to higher energy prices.
-In 2022, economic activity remained strong, despite the adverse external environment.
-Overall, for 2022 as a whole, the economy grew by 5.6% in real terms. This positive outturn is largely due to the better than expected developments in the tourism sector and the continued expansion of exports in other services.
In the 2nd quarter of 2023 the economy grew by 2.3% (SCA data) following a rate of 3.2% in the 1st quarter of 2023 and for the 1st half of 2023 is at 2.7%.
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Macroeconomic Outlook - March 2023

Main Messages
-Economic activity in 2021 recovered following the COVID-19 pandemic, with the GDP increasing by 6.6%.
-Labour market developments showed resilience and flexibility, conditions improved.
-Inflation increased due to higher energy prices.
-In 2022, economic activity remained strong, despite the adverse external environment.
-Overall, for 2022 as a whole, the economy grew by 5.6% in real terms. This positive outturn is largely due to the better than expected developments in the tourism sector and the continued expansion of exports in other services.
...more

Macroeconomic Outlook - October 2022

Main Messages
-Economic activity in 2021 recovered following the COVID-19 pandemic, and GDP growth is estimated at 5.5%.
-Labour market developments show resilience and flexibility, conditions improved.
-Inflation increased due to higher energy prices.
-The economic outlook for 2022 is surrounded by uncertainty, due to the Russia/Ukraine crisis....more

Macroeconomic Outlook - March 2022

Παρουσίαση για την Κυπριακή Οικονομία (Διαθέσιμη μόνο στα αγγλικά)

Economic activity in 2021 recovered following the COVID-19 pandemic. Labour market developments show resilience and flexibility, conditions improved.Inflation increased due to higher energy prices....more

Macroeconomic Outlook - October 2021

Presentation on the Cyprus Economy

Early introduction of targeted measures to contain the spread of the pandemic, along with measures to enhance the capacity and sustainability of the national health system and mitigate the economic effects of the crisis by supporting enterprises and protecting employment. Consumption supported by the expansionary fiscal policy. The economic outlook for 2021 is surrounded by uncertainty, prospects influenced by the vaccination programme having an impact on the re-activation of the economy. We expect return to pre-crisis levels by end 2021 and in the medium-term growth will hover close to its potential of around 2½-3%....more