IMF Staff Country Reports

Cyprus: 2021 Article IV Consultation-Press Release; and Staff Report

Publication Date:

June 16, 2021

Electronic Access:

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

Summary:

The COVID-19 pandemic has interrupted Cyprus’s strong economic growth over the past few years. High dependence on service sectors and strict containment measures led real output to contract by 5.1 percent (yoy) during 2020. Growth is projected to recover to 3 percent in 2021 as the vaccine rollout gathers pace despite the ongoing new wave of infections, but significant downside risks remain, reflecting the high uncertainty of the path of the epidemic.

Series:

Country Report No. 2021/125

Subject:

COVID-19 Financial institutions Fiscal policy Fiscal stance Health International organization Loans Monetary policy Nonperforming loans Public debt

Frequency:

regular