Cyprus economy to experience “serious recession” in 2020, Central Bank Governor says
Cyprus Central Bank Governor, Constantinos Herodotou, has said that he expects the country’s economy to experience a “serious recession” in 2020 due to the coronavirus pandemic.
“The economy’s prospects for 2020 and afterwards are dramatically overshadowed by the negative developments of the coronavirus pandemic,” Herodotou stresses in an introductory note included in the Central Bank’s annual report for 2019, which was released on Thursday.
The Central Bank Governor says that the institution’s December 2019 projections had noted that in general downward risks for the Cypriot economy continued to be present, which could decelerate its future course.
(CNA)
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“The economy’s prospects for 2020 and afterwards are dramatically overshadowed by the negative developments of the coronavirus pandemic,” Herodotou stresses in an introductory note included in the Central Bank’s annual report for 2019, which was released on Thursday.
The Central Bank Governor says that the institution’s December 2019 projections had noted that in general downward risks for the Cypriot economy continued to be present, which could decelerate its future course.
(CNA)
*The full text of the news item is available in the paid version of the CNA web service. Subscription Form
*CNA reserves the copyright to the news stories it files, which is granted to subscribers for specific use only.
from Cyprus News Agency
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