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FinMin: Cyprus economy recovering
Posted: Wed Feb 15, 2017 9:05 am
by Dominic
Re: FinMin: Cyprus economy recovering
Posted: Wed Feb 15, 2017 11:33 pm
by Jimgward
I think a tiny economy like Cyprus can easily expect rapid growth, when equally they've experienced rapid decline.... their economy is largely dependent on tourism and with the middle-east and now turkey becoming undesirable for tourists, that is and will continue to do well for the foreseeable... add in potential gas revenues and they should continue to grow.
Re: FinMin: Cyprus economy recovering
Posted: Sat Feb 18, 2017 10:35 am
by Dominic
Indeed, and Turkey's relationship with Russia has been a boost to Cyprus too.
Re: FinMin: Cyprus economy recovering
Posted: Sun Feb 19, 2017 5:33 pm
by KTG
One major blight on any recovery is the Non-Performing Loans ratio. Cyprus leads the world on this with 47%, even Greece can only manage 37% and the EU average is 5%. It's hard to believe banks could have been so profligate or is it!
Re: FinMin: Cyprus economy recovering
Posted: Sun Feb 19, 2017 9:46 pm
by kingfisher
KTG- quite so. And it is not only the NPL ratio but the unaddressed causes of the massive debt- which has changed little- and shows no real signs of changing.
Admittedly off-topic, but UK's 2.5% NPL ratio is lowest in a major European economy. Another good reason for getting disentangled ASAP....
http://www.europarl.europa.eu/RegData/e ... 400_EN.pdf