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IMF revises Cyprus 2019 growth to 3.5%

April 9, 2019 at 5:07pm
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The International Monetary Fund (IMF) has revised its projections for Cyprus GDP growth for 2019 to 3.5%, down from 4.2%.

In its World Economic Outlook, the IMF projected the Cyprus economy will grow by 3.3% in 2020.

Unemployment is seen as falling to 7% in 2019 and 6% in 2020. Inflation is projected at 0.5% in 2019 (previous forecast 1.8%) and 1.6% in 2020.

The current account deficit is forecast at 7.3% of GDP in 2019 and 6.5% in 2020.