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Economic activity started recovering from the sharp recession as of the first half of 2021, driven mainly by domestic demand, although tourism activity still remains well below the pre-pandemic level, the European Commission says in its 11th Post-Programme Surveillance Report on Cyprus. According to an announcement by the Ministry of Finance, the EC’s report also notes that Cyprus’ fiscal situation continues to reflect the impact of the pandemic on the economy and sizable fiscal support measures, although a clear improvement is …
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