In Cyprus we focus on:
- Strengthening the financial sector to build up resilience and improve governance
- Supporting the authorities’ privatisation programme
- Assisting corporate restructuring and providing finance to small and medium-sized enterprises
The EBRD’s latest Cyprus strategy was adopted on 6 May 2015
GDP growth remained solid in 2018 at 3.9 per cent. Investment was one of the main drivers, as the construction sector continued to grow. The increase of private consumption was another significant factor, thanks to improving labour market conditions and wage increases. Unemployment continued on a downward trend, reaching 7.4 per cent in January 2019. Net exports also made a small positive contribution to growth, helped by a strong tourist season.