IMF Staff Country Reports

Cyprus: 2024 Article IV Consultation-Press Release; Staff Report; and Statement by the Executive Director for Cyprus

Publication Date:

May 28, 2024

Electronic Access:

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

Summary:

Growth moderated in 2023 with slowing consumption growth, lower services exports to Russia, and fading post-pandemic base effects. But growth has remained above the euro area (EA) average, supported by a continued recovery in tourism, expanding financial services and ICT activity, and strong investments. The labor markets are tight, with unemployment at a near two-decade low. Headline inflation dipped below 2 percent, but core inflation has been more persistent. Growth is expected to stabilize in 2024 and rise to 3 percent in the medium term.

Series:

Country Report No. 2024/137

Subject:

Anti-money laundering and combating the financing of terrorism (AML/CFT) Crime Financial institutions International organization Labor Labor markets Monetary policy Nonperforming loans Public debt

Frequency:

regular