Investor Presentaiton
16%
14%
12%
10%
8%
6%
4%
2%
80 80 of o
07-2010
Cyprus - 2015 the year
2015 the year of normalisation and growth
GDP growth expected to be positive from 2015 - faster
recovery than other peripheral countries
2010 2011 2012 2013 2014 2015f 2016f 2017f
I
GDP Growth (yoy)
2,0%
1,4%
1,2%
1,4%
0,3%
(2,4%)
(2,5%)
(5,4%)
(3,4%
(3,9%)
(8,7%)
Real GDP growth - Actual
Current projections (EC)
Initial Projections (EC)
Improved rating and credit outlook as demonstrated by
benchmark sovereign bond issue
Yield
2020 Cyprus government bond
09-2010
11-2010
01-2011
03-2011
05-2011
07-2011
09-2011
11-2011
01-2012
03-2012
05-2012
07-2012
09-2012
11-2012
01-2013
03-2013
05-2013
07-2013
09-2013
11-2013
01-2014
03-2014
05-2014
07-2014
09-2014
* Data used is based on flash estimates
SOURCE: Statistical Service of Republic of Cyprus, European Commission, Bloomberg, IMF and company reports
2Q2011
3Q2011
1,2%
-0,4%
4Q2011
-0,8%
1Q2012
-1,2%
2Q2012
-2,4%
3Q2012
-2,3%
4Q2012
-3,7%
1Q2013
2Q2013
3Q2013
4Q2013
1Q2014
2Q2014
3Q2014
4Q2014
1Q2015
2Q2015
3Q2015
Continued
improvement
11-2014
01-2015
03-2015
05-2015
07-2015
09-2015
11-2015
.
According to the flash estimate published on 13
November 2015, real GDP in 3Q2015
increased by 2,2% yoy over the corresponding
quarter of 2014, on a seasonally adjusted basis.
This was the third consecutive quarterly
increase after fourteen quarters of continuous
decline.
In October 2015 the Republic of Cyprus tapped
the international debt markets for a second time
in 2015 with the issuance of a 10 year bond and
raised €1 bn (€2 bn in total in 2015) at a yield of
4,25%
Bank of Cyprus
5
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