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DBRS revises Cyprus growth to 2.7% in 2024 and 2.5% in 2025

07:52 - 01 July 2024

Economy Reporter

Global credit rating agency, Morningstar DBRS, has upgraded its growth forecast of the Cypriot economy by 0.3 percentage points in 2024 and by 0.1 percentage points in 2025, compared to its forecast last March. 

In its revised June key macroeconomic scenario, the Canadian agency expects the Cypriot economy to grow at a rate of 2.7% in 2024 and 2.5% in 2025.

DBRS also revised the unemployment rate in Cyprus. Compared to its forecast last March, the agency now expects the unemployment rate to fall by a further 0.2 percentage points to 5.9% in 2024 and by 0.4 percentage points in 2025 to 5.7%. 

(Source: CNA)

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