DBRS adjusts Cyprus growth forecast for two years

Global credit rating agency, Morningstar DBRS, has upgraded its growth forecast of the Cypriot economy by 0.3 per cent in 2024 and by 0.1 per cent in 2025, compared to its forecast last March. 

In its revised June key macroeconomic scenario, issued on Friday, the Canadian agency said it expects the Cypriot economy to grow at a rate of 2.7 per cent in 2024 and 2.5 per cent in 2025.

DBRS also revised the unemployment rate in Cyprus. Compared to its forecast last March, the agency...