Cyprus Economy to Grow 2.7%

Cyprus’ Central Bank chief says the island nation’s economy will grow by slightly more than 2.7% of gross domestic product in 2016 and will hover at around the same levels for the next two years, Fox Business reported. Chrystalla Georghadji told parliament Thursday that growth is mainly driven by robust domestic consumption, investments and exports. Unemployment has dropped to 12.1% in the second quarter of 2016, down from a high of 16.1% in 2014. She said public debt is projected to drop to 96% of GDP in 2019 from a peak of 109% in 2015.