Cyprus: Staff Report for the 2004 Article IV Consultation

March 22, 2005

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Cyprus: Staff Report for the 2004 Article IV Consultation, (USA: International Monetary Fund, 2005) accessed November 22, 2024

Summary

This 2004 Article IV Consultation highlights that economic growth in Cyprus has begun to rebound following a more modest performance in 2002–03, recovering in real terms to about 3½ percent in 2004, mainly driven by an increase in domestic demand. Real per capita income has continued to rise, now reaching above 80 percent of the average European Union 25 income level when adjusted for purchasing power. Looking ahead, growth is estimated at close to 4 percent in 2005, reflecting an improved external environment.

Subject: Banking, Economic sectors, Financial regulation and supervision, Fiscal consolidation, Fiscal policy, Labor, Public debt, Tourism

Keywords: Authorities' areas of concern, Authority, CR, Cyprus authorities, Deficit, Deficit target, Estimate, Europe, Fiscal consolidation, IMF surveillance purpose, ISCR, Middle East, Staff appraisal, Staff view, Target, Tourism

Publication Details

Pages:

54
Volume:

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DOI:

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Issue:

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Series:

Country Report No. 2005/107
Stock No:

1CYPEA2005002
ISBN:

9781451809855
ISSN:

1934-7685

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