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CNA - Spokesman says realistic to expect a GDP growth rate of more than 4% for 2018




CNA - Nicosia - Government Spokesman Prodromos Prodromou has said that the Statistical Service`s announcement regarding the GDP growth rate confirms that this year, the economy is showing accelerated growth at a rate of more than 4%.

According to the Flash Estimate compiled by the Statistical Service, the GDP growth rate in real terms during the second quarter of 2018 is positive and is estimated at +3.9% over the corresponding quarter of 2017. Based on seasonally and working day adjusted data, GDP growth rate in real terms is estimated at +3.9%.

Prodromou, who issued a written statement following the Statistical Service`s announcement, noted that in combination with a 4% growth rate during the first quarter and the seasonal variation of economic activity, it is realistic to expect a growth rate of more than 4% for the whole year 2018.

He also said that this is the 14th consecutive quarter of growth since 2015 and adds that "this confirms that this is not conjunctural but that the course of the economy is now steadily growing”.

Prodromou added that the growth allows Cyprus to absorb unemployment and move on to a full employment track.

Concluding, the Spokesman noted that the government`s prudent economic policy must continue and that along with stability, this will favor development initiatives.

CNA/AAR/GV/2018
ENDS, CYPRUS NEWS AGENCY
________________________________________

Cyprus News Agency, 21 Academias Avenue, 2107 Aglantzia, Nicosia
Tel. 22556000, Fax. 22556100, email:news@cna.org.cy, website: www.cna.org.cy



Agency : CNA

Date : 2018-08-15 11:22:28







 

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