CYPRUS: Fiscal position to improve this year following recent endorsement of austerity measures
CYPRUS: Fiscal position to improve this year following recent endorsement of austerity measures
Emerging Markets Special Focus Reports
15 Μαρτίου 2012
• Early 2011 economic recovery hindered by lingering euro area debt crisis, munitions accident • Domestic economy expected to broadly stagnate this year, with return to more sustained growth seen likely in 2013 • Public finances deteriorated in the past three years due to structural and cyclical factors • Fiscal position to improve in 2012 on recently-adopted austerity measures • Cyprus in a better position than other euro area economies to weather the sovereign debt crisis