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Business Cyprus

IMF forecasts slight drop in unemployment for Cyprus

The International Monetary Fund (IMF) sees a return to growth in Cyprus in 2015 and a slight drop in unemployment this year and next.

According to its World Economic Outlook, the IMF sees unemployment in 2014 revised from 19.8 per cent to 19.2 per cent, and 18.4 per cent in 2015.

Cyprus’ GDP is expected to shrink by 4.8 per centin 2014 , while 2015  a growth rate of 0.9 per cent is forecast.

Inflation in 2014 is forecast to remain at the same level as in 2013 , ie 0.4 per cent, and accelerate to 1.4 per cent in 2015 .

Stabilisation is expected in the prices of various utilities such as electricity.

 

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Source: Cyprus News Agency

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