Cyprus: First Post-Program Monitoring Discussions-Press Release; Staff Report; and Statement by the Executive Director for Cyprus
International Monetary Fund. European Dept.
Jun 2017 · International Monetary Fund
Ebook
51
Pages
Sample
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About this ebook
The economic recovery has strengthened since Cyprus exited the Fund-supported program 15 months ago. Broad-based growth and improved external competitiveness have reduced unemployment. The fiscal position is in small surplus. External adjustment has continued, and borrowing costs for the public and private sectors have moderated. While the stock of credit continues to decline, returning confidence in the banks has encouraged deposit inflows.
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