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ARTICLE · 31 MAY 2018

Mergers & Acquisitions 2018

Elias Neocleous & Co LLC
Elias Neocleous & Co LLC
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Elias Neocleous & Co LLC

Elias Neocleous & Co LLC

Elias Neocleous & Co LLC (ENC) is among the largest firms in southeast Europe and the Eastern...

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According to the European Commission, in 2017 Cyprus was one of the fastest-growing economies in the euro area with a GDP growth of 3.8% (up from 2.9% in 2016).

CyprusWealth Management
Elias Neocleous
Elias Neocleous
Demetris Roti
Demetris Roti
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1. Overview

According to the European Commission, in 2017 Cyprus was one of the fastest-growing economies in the euro area with a GDP growth of 3.8% (up from 2.9% in 20161). While growth is expected to moderate in 2018 and 2019, to 3.2% and 2.8% respectively, it is still above the average growth forecast of 2.3% and 2.0% respectively for both the euro area and the EU.2

The unemployment rate in Cyprus, which peaked at almost 18% in 2013 following the financial crisis, fell substantially to 13% in 2016. The downward trend in the unemployment rate continued in 2017, as it fell below 11%. It is projected that by 2019 the unemployment rate will be around 9.3%, which is just over half the rate for 2013.

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