중동부유럽

A major economic recovery is continuing. GDP growth in 2017 was 4.2 per cent, and the level of economic output has almost reached the pre-crisis level. Fiscal performance remains strong and the government reached an overall fiscal surplus for the second year in a row.

Privatisation remains largely on hold, while liberalisation of the energy sector has been delayed. There appears to be little appetite for selling a majority stake of the state-owned telecommunications company, although this had been one of the government’s priorities during the crisis.

The Cyprus Cooperative Bank (CCB) has been liquidated. The healthy part was bought by the Hellenic Bank, while the state will absorb the remaining parts of the bank.