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Construction booms in Cyprus, rising 36.7% in Q1 2017

A construction boom is taking place in Cyprus, boosting the country’s economy as it seeks to distance itself from the Troika-imposed bailout days.

According to data published today by Eurostat, construction in the first quarter of 2017 jumped 36.7% compared to the same period 2016.

This increase was the largest in the EU. During the fourth quarter of 2016 an increase of 17.9% was recorded.

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Large increases were also recorded in Hungary (24.6%), Ireland (21.2%), Estonia (20.4%), Slovenia (20.1%), and Malta (16.1%).

An increase of 8.6% was recorded in Greece,  compared to 18.6% in the previous quarter.

Construction in the Eurozone recorded a 1.8% increase, while in the EU it rose by 2.4%.

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