Cyprus: 2023 Article IV Consultation-Press Release; and Staff Report

June 5, 2023

Preview Citation

Format: Chicago

Cyprus: 2023 Article IV Consultation-Press Release; and Staff Report, (USA: International Monetary Fund, 2023) accessed December 22, 2024

Summary

Growth is projected to slow from 5.6 percent last year to 2½ percent this year. Recovery in tourism and an influx of foreign companies is set to continue, but elevated inflation and tighter financial conditions will weaken domestic demand. Price pressures—stemming from high energy prices in 2022—are expected to moderate but will persist for core inflation. Growth is projected to pick up over the medium-term, underpinned by investments and reforms in the Recovery and Resilience Plan (RRP).

Subject: Financial institutions, Fiscal policy, Fiscal stance, Inflation, International organization, Monetary policy, Nonperforming loans, Prices, Public debt

Keywords: Europe, Fiscal stance, IMF's transparency policy, Inflation, Inflation expectation, Inflation pressure, Land price indices, Nonperforming loans, SDR million

Publication Details

Pages:

62
Volume:

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DOI:

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Issue:

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Series:

Country Report No. 2023/192
Stock No:

1CYPEA2023001
ISBN:

9798400244841
ISSN:

1934-7685

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