Within the scope of our involvement in the economic developments, our specialised team of economic analysts (www.economics.pwc.com) has evaluated the Cyprus economy.
PricewaterhouseCoopers’ latest economic analysis shows that Cypriot economic growth accelerated to 1% in the first quarter of 2008 due to resilient consumer spending growth and a rebound in investment growth. Since the adoption of the euro on 1 January 2008, exports have contracted while imports have grown strongly. The Cypriot economy is expected to maintain a strong pace of expansion, growing by 3,6% in both 2008 and 2009. The growth rate is above the expected Euroland average of 1,7% in 2008 and 1,6% in 2009.
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