Further increase in loan demand recorded in Q1 2020 despite measures for COVID-19 in March

Net demand for loans in Cyprus has recorded a further increase in the first quarter of 2020, a development that is reflected, according to a survey by the Central Bank of Cyprus (CBC), in the positive GDP growth rate in the first quarter of this year despite adverse developments recorded in March in connection with the coronavirus pandemic.
However, the demand for loans by households, according to the survey, remained in the first quarter at the same levels of the previous quarter, ie unchanged, both with regard to housing and consumer and other loans.
The CBC’s survey of April 2020 covers the first quarter of the year and includes only the beginning of the restrictive measures and actions of the Government of the Republic of Cyprus to address the spread of the pandemic.


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from Cyprus News Agency
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