IMF forecasts Cyprus’s economy to grow 0.5% in 2015

By Stelios Orphanides

The International Monetary Fund said that it expects Cyprus’s economy to grow 0.5 per cent this year and 1.4 per cent in 2016, after shrinking 2.3 per cent last year.

The unemployment rate is expected to remain this year at the same level as in 2014 or 16 per cent before dropping to 15 per cent in 2016, the IMF said in its October 205, World Economic Outlook report. The IMF expects growth to accelerate to 1.8 per cent by 2020.

The Cyprus Mail is the only English-language daily newspaper published in Cyprus. It was established in 1945 and today, with its popular and widely-read website, the Cyprus Mail is among the most trusted news sites in Cyprus. The newspaper is not affiliated with any political parties and has always striven to maintain its independence. Over the past 70-plus years, the Cyprus Mail, with a small dedicated team, has covered momentous events in Cyprus’ modern history, chronicling the last gasps of British colonial rule, Cyprus’ truncated independence, the coup and Turkish invasion, and the decades of negotiations to stitch the divided island back together, plus a myriad of scandals, murders, and human interests stories that capture the island and its -people. Observers describe it as politically conservative.