There has been mixed news on Cyprus’s economy.
The Mediterranean island’s finance ministry says GDP likely shrank by 5.5 percent last year but that was better than the previously forecast, which was that it would decline 7.7 percent.
Resilient private consumption and solid tourism numbers played a big part.
Cyprus needed a 10 billion euros bailout from the European Commission and the IMF to avoid going bankrupt.
The Finance Ministry did not give any projections for 2014, but did say the economy still faces challenges amid a weak growth outlook.
Copyright © 2015 euronewsMore about:
- 1Hard times ahead for Ukraine with massive job cuts and price hikes on the way
- 2Riga at the heart of Europe’s digital revolution
- 3German doubts in Greek debt crisis
- 4GDP growth revised down in US for Q4, but Q1 looks rosier
- 5Ireland and Denmark get a slice of Apple as company announces huge European project
- 1euronews live TV - News | euronews : the latest international news as video on demand
- 2Exclusive: CIA and Mossad are behind Boko Haram and ISIL, says Sudan president | euronews, world news
- 3eurovibes - a selection of Europe’s best music talent
- 4English and Spanish among happiest languages | euronews, world news
- 5Greek debt: who will pay if Greece fails? | euronews, world news
- 6Exclusive: Tsipras promises meritocracy, transparency for Greece, urges Europe to put people first | euronews, world news
- 7Watch: Ukraine MPs in fierce fist fight outside parliament | euronews, world news
- 8Dramatic dashcam video captures Taiwan plane crash | euronews, world news
- 9International news | euronews, latest international news
- 10Data ‘mocks’ claims migrants try for Europe ‘expecting’ sea rescue | euronews, world news
- 11European Union News | euronews: latest breaking news and headlines about European Union
- 12Kosovo emptying out, hopes for independent future exhausted | euronews, world news
- 13Tens of thousands march in Moscow in memory of Boris Nemtsov | euronews, world news
- 14‘Blue’ dress causes internet confusion. Is it white and gold? | euronews, world news
- 15Live updates: follow the 2015 Oscars ceremony | euronews, world news
- 16euronews apps : iPhone, iPad, Android, Windows Phone 8, Windows 8, Nokia S40, Nokia Asha, Smart TV and Google Glass
- 17Implanted RFID chip controls office access for Stockholm workers | euronews, hi-tech
- 18Barack Obama’s silly Buzzfeed video goes viral | euronews, world news
- 19Elastic road surface reduces motorway noise pollution | euronews, futuris
- 20Canada: Valentine’s Day mass shooting plot foiled say police | euronews, world news
Wires > Business
- 22:32 CET S&P, Dow post record closes, dollar hits 11-year high
- 22:31 CET Standard Chartered to shrink bonus pool by 9 percent – Sky News
- 20:38 CET Bill Gates tops Forbes rich list, Michael Jordan joins
- 19:57 CET Mixed messages on third Greek bailout talks
- 19:39 CET Deutsche Telekom to invest 6 billion euros in European network
- 19:22 CET U.S. stocks extend rally, dollar reaches 11-year high
- 19:07 CET Russian tycoon clashes with Britain over North Sea deal
- 18:17 CET Bill Gates tops Forbes rich list, Michael Jordan joins