IMF estimates Cyprus returning to growth in 2015

According to the IMF`s World Economic Outlook (April 2014) Cyprus’ economy is expected to grow by 0.9 of GDP in 2015, following the 4.8 per cent contraction expected for 2014.

According to the WEO, the highest rate of unemployment in 2014 will be 19.2 per cent, compared to 2013′s 19.8 per cent and will decline to 18.4 per cent in 2015, busted by a modest economic growth. IMF staff estimates that the rate of unemployment has started showing signs of deceleration during the last months of 2013.

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