Cyprus: Recent Economic Developments

January 2, 1995

Preview Citation

Format: Chicago

Cyprus: Recent Economic Developments, (USA: International Monetary Fund, 1995) accessed November 24, 2024

Summary

This paper reviews economic developments in Cyprus during 1990–95. Economic growth slowed down and became more volatile in the early 1990s compared with the 1980s. External shocks, compounded by unfavorable domestic developments, kept GDP growth at unusually low levels in 1991 and 1993. Inflation, which had remained below the European Union (EU) average throughout the 1980s, edged over it since 1991. The price deceleration in 1993 and 1994 was insufficient to bring Cypriot inflation in line with falling inflation in the EU, mostly on account of the introduction of value-added tax in 1992.

Subject: Banking, Exports, External debt, Financial institutions, Imports, International trade, Loans, Public debt

Keywords: Balance of payments, Broad money, Capital formation, Central bank, CR, Current account, Eastern Europe, Europe, Exchange rate, Exports, Fixed capital, Imports, ISCR, Liquidity ratio, Loans, Middle East, Net profit, Private sector

Publication Details

Pages:

114
Volume:

---
DOI:

---
Issue:

---
Series:

Country Report No. 1995/003
Stock No:

1CYPEA0011995
ISBN:

9781451809770
ISSN:

1934-7685

Notes

This report on recent economic developments in Cyprus was prepared by a staff team of the international Monetary Fund as background documentation for the periodic consultation with this member country. In releasing this document for public use, confidential material may have been removed at the request of the member.

FACTSHEETS

RESOURCES

TOPICS

Flagship Publications

Other Publications

IMF reports and publications by country

Regional Offices

All News

See Also

For Journalists

Press Center

RESOURCES

FLAGSHIPS

KEY SERIES

IMF NOTES

IMF Staff Country Reports