Performance and Capital Position Overview
Macroeconomic Overview: Cyprus economy surpassing expectations
Economic growth gaining momentum
GDP Growth* (yoy)
2010
2011
2012
2013
2014
2015 2016E
2017E
I
2,2%
2,5%
1,3%
1,6%
0,3%
(2,4%)
(2,7%)
(6,0%)
(3,4%)
(3,9%)
(8,7%)
Real GDP growth - Actual
Initial Projections (EC)
2Q2011
3Q2011
4Q2011
1,2%
-0,4%
-0,8%
1Q2012
-1,2%
2Q2012
-2,4%
3Q2012
-2,3%
4Q2012
-3,7%
1Q2013
-5,3%
2Q2013
-6,0%
3Q2013
-5,5%
4Q2013
-4,7%
1Q2014
2Q2014
3Q2014
-3,2%
-1,8%
-2,1%
4Q2014
-1,8%
1Q2015
0,1%
2Q2015
1,2%
3Q2015
4Q2015
2,3%
2,8%
1Q2016¹
2,7%
Improved rating and credit outlook as demonstrated by benchmark sovereign bond issue
Cyprus 2022 (issued 04/2015) Cyprus 2025 (issued 11/2015)
-Cyprus 2019 (issued 06/2014)
0,18
0,16
0,14
0,12
0,1
0,08
0,06
0,04
0,02
0
при
- Cyprus 2020 (issued 02/2010)
Jan-10 May-10 Sep-10 Jan-11 May-11 Sep-11 Jan-12 May-12 Sep-12 Jan-13 May-13 Sep-13 Jan-14 May-14 Sep-14 Jan-15 May-15 Sep-15 Jan-16 May-16
(1) Based on the Statistical Service of the Republic of Cyprus
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SOURCE: Statistical Service of Republic of Cyprus, Bloomberg, IMF and company reports
ADING
Bank of Cyprus
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