Cyprus has roared back from its financial crisis to boast one of Europe’s fastest-growing economies just five years after a €10 billion bailout and a deep recession.
Growth this year is expected to reach 4 per cent, whilst Cyprus’s banking institutions have been overhauled as the Finance Ministry methodically tackles the bad debts left behind by the recession. Also, the robust tourism segment is booming and record tourist arrivals tell a story of economic prosperity.
Meanwhile, with investment grade secured, Cyprus has turned a corner on what has been a remarkable journey from crisis to recovery, whilst new and established industries, from university education to shipping, are being nurtured and are growing quickly, writes, among others, The Times’ latest spotlight on Cyprus, Opportunity Knocks, published on November 6, 2018.
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