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Economy shrinks by 2.4%

20/03/2013 13:15
Cypriot economy shrunk by 2.4% in 2012, according to Cystat’s first estimate.

The GDP for 2012 is estimated at €17,886.8 million in current prices compared to €17,979.3 million in 2011 and €14,817.6 million at constant prices (chain linking method) compared to €15,186.0 million in 2011.

The growth rate in real terms is estimated at -2.4% in 2012 compared to 0.5% in 2011.