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Cyprus’ Gross Domestic Product (GDP) increased by 9.8% or €1.61 billion in 2013, reaching €18.1 billion, following the revision of the National Accounts for the period 1995-2013, a development that is expected to have a positive impact on financial indicators of both the previous and current year.

The island’s Statistical Service announced that the total impact of GDP revision ranges from increases of 7.5% to 9.8% of GDP, throughout the eight year period. The latter figure represents the upward revision for 2013 GDP, the highest of previous years.

This 9.8% revision of GDP, compared to a 9.5% increase for 2012, is expected to have a positive effect on the fiscal deficit and the public debt recorded last year, a development that could, in turn, positively affect financial indicators for 2014.

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Credit Suisse license n New York not to be revoked
More information available at KMP Trust Website
http://www.kmptrust.com/node/98

Credit Suisse license n New York not to be revoked
More information available at KMP Trust Website
http://www.kmptrust.com/node/98

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http://www.kmptrust.com/node/99

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