Cyprus economy grows 3.9 pct in 2017

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Cyprus’ economy growth rate reached 3.9 percent on an annual basis in 2017, a statement of Eurostat made available in Nicosia said on Wednesday.

Cyprus’ statistical service put growth at 4.0 percent in the last quarter, saying it was the highest quarterly increase since the third quarter of 2008.

Finance Minister Harris Georgiades has said that it is important to achieve a high growth rate because it encourages foreign investment.

Cyprus was pulled back from bankruptcy in a 10-billion-euro assistance package by the Eurogroup and the International Monetary Fund in 2013.

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