Cyprus Mail

Finance ministry sees growth at 1.8% in 2016

By Stelios Orphanides

The finance ministry said that it is confident that the Cypriot economy will grow at a rate higher than forecast by international creditors following the seventh programme review.

“With the restructuring of the banking system and the gradual easing of the non-performing loans situation, growth is expected to accelerate,” the finance ministry said in a statement on its website. “Taking the better-than-expected 2015 performance, the finance ministry’s economic growth forecast for 2016 is around 1.8 per cent in real terms that will accelerate in 2017 and 2018 to 2 per cent to 2.2 per cent”.

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