global uncertainty

Cyprus Economic Indicators Urge Caution Amidst Global Uncertainty

The Cyprus economy displays resilience amidst global uncertainty, with a slight increase in the Composite Leading Economic Index (CLEI) hinting at growth. However, a downturn in the Economic Climate Index (ECI) signals caution, emphasizing the need for vigilance as the economy navigates geopolitical tensions and potential regional downturns.

Cyprus Economy Resilient Amid Global Uncertainty, Finance Ministry Says

By Demis Papadopoulos

Cyprus’s economy remains resilient amid global financial uncertainty, with a projected GDP growth of 2.2% in 2023. Driven by domestic demand, employment growth, wage increases, and government measures to curb inflation, Cyprus anticipates a gradual economic recovery, with growth rates expected to rise to 2.6% and 2.9% in 2024 and 2025, respectively.