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The preliminary estimate published by the Statistical Service of Cyprus over a growth rate of -4.4% GDP in the third quarter of 2020 confirms our projections that contraction will be limited to -5.5% in 2020 due to the coronavirus pandemic, the Finance Ministry has said. The Ministry said in statement that economic contraction in Cyprus will be less severe than the EU average. The Cypriot economy shrank by 5.6% in the first half of 2020 and is estimated to recover with a …
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