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Macroeconomic overview Tourist Arrivals and Receipts: yoy % changes 14,4% ■ Arrivals Receipts 10,1% 9,0% 8,7% 8,0% 3,8% 3,2% 1,5% 4,2% 1,5% -2,6% -2,8% 2010 2011 2012 2013 2014 2015* ytd Evolution of Residential Property Price Index (RPPI) (yoy % change) 25% 20% 10% 0% 0% -7% -10% -20% -30% -40% 1Q2011 Government budget and primary balance and public debt as % of GDP 108% 103% 106% 98% 94% 79% 66% 56% 3% 3% 2% 2% 1% 0% 0% -1% -2% -3% -3% -4% -5% -6% -5% -6% 2010 2011 2012 2013 2014 2015 2016F 2017F Government budget balance (% of GDP) Government primary balance (% of GDP) Gross public debt (% of GDP) Contribution to GDP growth 4 1,4% -Residential Property Price Index 0,3% 2 2Q2011 3Q 2011 4Q2011 1Q2012 2Q2012 3Q2012 4Q2012 1Q2013 0 -2,0% -2 -3,7% -9% -4 3Q2013 1Q2014 2Q2014 3Q 2014 4Q2014 1Q2015 2Q2015 3Q 2015 -2,4% -2,5% 1,4% -5,4% -6 2009 2010 2011 2012 2013 2014 2015E Agriculture Construction Industry Information Real Estate Other services * Data for Tourist arrivals and receipts for 2015 is expected SOURCE: Central Bank of Cyprus, Statistical Service of Republic of Cyprus, European Commission, Bloomberg, IMF and company reports; Calculations by BOC Economic Research Tourism, trade and transport Financial and insurance Professional and administrative GDP Bank of Cyprus KOINO ΚΥΠΡΙ 235 51

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