IMF Staff Country Reports

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

Publication Date:

June 5, 2023

Electronic Access:

Free Download. Use the free Adobe Acrobat Reader to view this PDF file

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).

Series:

Country Report No. 2023/192

Subject:

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

Frequency:

regular