The Cypriot economy shrank by 3% in the fourth quarter of 201

The Cypriot economy shrank by 3% in the fourth quarter of 2012, amid economic downturn in the Euro area and the EU-wide economy, as the sovereign crisis continues to weigh down Europe`s economy reports Farmagusta.According to figures released by Eurostat, the Cypriot GDP shrank in...

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The Cypriot economy shrank by 3% in the fourth quarter of 201



Balkans.com Business News Correspondent - 15.02.2013

The Cypriot economy shrank by 3% in the fourth quarter of 2012, amid economic downturn in the Euro area and the EU-wide economy, as the sovereign crisis continues to weigh down Europe`s economy reports Farmagusta.

According to figures released by Eurostat, the Cypriot GDP shrank in Q4 by 3% year on year, marking four consecutive quarters of decline. However the Euro area remained into technical recession, as the GDP declined for a third consecutive quarter. 


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