The growth of the Cypriot economy showed a slight acceleration in the fourth quarter of 2023, according to new Statistical Service and Eurostat data.
The figures show Cyprus registered the second highest growth rate in the European Union. In fact, growth during the fourth quarter of 2023 was positive and estimated at 2.1%.
According to the Commission’s autumn forecasts, after the strong growth of Cypriot GDP by 5.1% in 2022, economic activity curbed to 2.2% in 2023, amid continued global economic uncertainty and rising interest rates, but gradually it should recover in 2024 and 2025.
