IMF expects Cyprus economic growth to plunge to 26 in 2018

The International Monetary Fund (IMF) said on Tuesday it expects the Cypriot economy’s growth to slow down to 2.6 per cent next year from 3.4 per cent in 2017.Consumer prices are expected to increase 0.8 per cent this year and 0.7 per cent in 2018, the IMF said in its World Economic Outlook. The unemployment rate is expected to drop next year to 10.7 per cent from 11.8 per cent this year and 13 per cent last year.The current account deficit is expected to narrow to 3.8 per cent of economic output in 2017 and to 2.7 per cent next year from 5.3 per cent last year, the IMF said.The new forecast, revises downwards the forecast published in the concluding statement prepared by the IMF staff on Friday, a week after the latest post-programme surveillance mission. The finance ministry said on September 13, that it expects the economy to expand 3.6 per cent this year and 3 per cent in 2018, after growing 3 per cent last year.You May LikeLuxury Crossover SUV I Search AdsThese SUVs Are The Cream Of The Crop. Search For 2019 Luxury Crossover SUV DealsLuxury Crossover SUV I Search AdsUndoDr. Marty ProPower Plus Supplement3 Dangerous Foods People Feed Their Dogs (Without Realizing It)Dr. Marty ProPower Plus SupplementUndoPopularEverythingColorado Mom Adopted Two Children, Months Later She Learned Who They Really ArePopularEverythingUndo Concern over falling tourism numbersUndoTurkish Cypriot actions in Varosha ‘a clear violation’ of UN resolutions, Nicosia saysUndoOur View: Argaka mukhtar should not act as if he owns the beachUndoby Taboolaby Taboola read more