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The Cypriot economy is expected to shrink by 5.5% in 2020 compared to a 7% reduction which was the main scenario of the government, the Minister of Finance Constantinos Petrides said, speaking at a virtual event organized by Economist titled “The New York – East Med Summit: A sea of conflict or a sea of opportunities ». Petrides said that the Government has revised downwards its forecasts for contraction of the economy, as well as the forecasts for unemployment, which is …
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