Cyprus’ 9th Post-Programme Surveillance Report: Recession in 2020 lower than initially estimated

cyprus’-9th-post-programme-surveillance-report:-recession-in-2020-lower-than-initially-estimated
Advertisement

The recession in 2020 is expected to be lower than initially estimated, despite the effects of the pandemic, the European Commission said in its 9th Post-Programme Surveillance Report on Cyprus. At the same time, a significant improvement in fiscal figures for 2021 is expected, with public debt set to decline again in the coming years. Regarding the risks for the Cypriot economy, the Commission notes, inter alia, that the banking sector may be adversely affected by the pandemic, as support measures …

Advertisement
Advertisement
Previous articleDendias and Christodoulides coordinate action in view of the forthcoming conference of the European FMs
Next articleCyprus Meteorological Service issues yellow warning for thunderstorms and hail