Cyprus economy will rebound in 2021

30 Apr 2020

COVID19: Cyprus property market will rebound in 2021
COVID19: Cyprus property market will rebound in 2021
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The International Monetary Fund (IMF) expects growth of 5.6% in 2021, inflation 1% and a drop in unemployment for the Cypriot economy.

The IMF has downgraded its estimates due to the COVID-19 pandemic as it previously expected growth of 2.9% for 2019 to a 6.5% recession and 0.7% inflation and a current account deficit of 8.3% in the Cypriot economy, according to the World Economic Outlook for 2020.

However, things will clearly be better for 2021, always based on IMF estimates as it expects growth of 5.6%, inflation of 1%, and a drop in unemployment.

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