FinMin revises 2021 growth projection to between 4.5% and 5% from 3.7%

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Minister of Finance Constantinos Petrides said the Cyprus economy is estimated to grow at a rate of 4.5% to 5% of GDP, revising the Ministry’s previous projections for a 3.7% growth rate, following better than expected GDP data over the first quarter of 2021. According to a flash estimate issued by Cystat, the Cypriot GDP in the first quarter of 2021 contracted by an annual 1.6% compared with -1.8% of the Euro area average, Petrides said, adding that compared with the …

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