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The International Monetary Fund downgraded its projections for the Cypriot economy as part of the slowdown of the global economy, due to subdued trade and softer industrial production. In its World Economic Outlook (WEO) the IMF said that the Cypriot GDP will expand by 3.1% compared with 3.5% of GDP in its April edition, while in 2020 the economy will slowdown to a 2.9% expansion compared with 3.3 in its previous estimate. Unemployment is projected to reach 8% compared with 7% in …
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