The Cypriot economy is in a period of adjustment following the banking crisis which triggered a bailout of the government in 2013. Entrenched in a deep recession, GDP has contracted for 12 consecutive quarters, leaving the economy 10% below pre-crisis levels. Growing from a low base, GDP is forecast to average 2.9% per annum over 2020-2035, outpacing the Eurozone. However, the outlook is not without risk, government debt soared to 112% of GDP in 2013 – dangerously in excess of the EU 60% limit.
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This Economic Outlook presents our macroeconomic outlook to 2035 at the country level.
Specifically we assess the structure of the economy and present the GDP and industrial production outlook.
The long-term outlook is underpinned by a set of GDP models which take account of long-term structural drivers of GDP including demographics, investment and productivity growth.
Finally, we highlight the key risks facing our outlook, both upside and downside.
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Commodity market report | Sep 2014
Cyprus economic outlook Q3 2014
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