Cyprus economy sees highest growth rate in five quarters

The Cypriot economy exhibited its highest growth rate in the last five quarters during the first quarter of 2024, with Gross Domestic Product (GDP) increasing by 3.5 per cent compared to the same quarter of 2023, according to a preliminary estimate by the Cyprus Statistical Service (Cystat).

The 3.5 per cent growth recorded in GDP for the first quarter of 2024 marks the highest since the fourth quarter of 2022, on an annual basis.

After adjustments for seasonal fluctuations and working days...