Cyprus Economy to Shrink At Least 5% in 2013, Survey Shows
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Cyprus’s economy will contract by at least 5 percent and possibly by more than 15 percent this year, according to most financial analysts, portfolio managers and other investment professionals on the island interviewed in a survey.
About 44 percent of the 72 members of the Cyprus CFA Society who answered the survey said the country’s economic contraction will be between 5 percent and 10 percent this year. Another 33 percent said the slump could be as high at 15 percent, while 11 percent predicted a larger decline. Cyprus CFA Society is the local society of Virginia-based CFA Institute.