European Parliament Library

Cyprus :, Staff Report for the 2006 Article IV Consultation

This 2006 Article IV Consultation highlights that economic activity in Cyprus has recovered from a relatively weak performance in 2002–03. Declines in interest rates and strong capital inflows associated with Cyprus’s accession to the European Union in May 2004 spurred growth in private consumption and investment while recovering tourist receipts reduced the external drag on the economy. The economy is experiencing rapid credit growth and brisk housing price increases. Total credit to the private sector accelerated recently, with mortgage lending leading the expansion
Table Of Contents
Cover; Executive Summary; Contents; I. Introduction; II. Economic Background; III. Policy Discussions; A. Economic Outlook; B. Adopting the Euro; C. Safeguarding Fiscal; Boxes; 1. External Competitiveness; D. Strengthening the Financial Sector; E. Sustaining Economic Growth Through Structural Reforms; IV. Staff Appraisal; Tables; 1. Selected Economic and Social Indicators, 2002-08; 2. Monetary Survey, 2002-06; 3. General Government Accounts, 2002-08; 4. Balance of Payments, 2002-11; 5. External Debt Sustainability Framework, 2001-11; 6. Proposed Gateway Process for PPPs
Literary Form
non fiction
Description based upon print version of record
Physical Description
1 online resource (62 p.)
Specific Material Designation
Form Of Item

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