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Cypriot Investment Scheme
Repossession Property Yield Properties

Latest news

  • 10 September 2019 Many Home dwellers few are the first borrower applications

    Implementation of the Home plan has not begun with the best odds, as... read more

  • 3 September 2019 Home plan from tomorrow for 10 thousand borrowers

    After months of discussions, the Home Plan is being implemented from tomorrow... read more

  • 2 September 2019 July property sales hold steady Update

    The number of Cyprus property sales during July was the same as the number... read more

  • 29 August 2019 Cyprus real estate market review 2018

    In its annual Cyprus real estate market review, PwC reports that the... read more

  • 19 August 2019 Building permits authorised for 907 new homes

    Building permits authorised in Cyprus during May 2019 provided for the... read more

Cypriot Investment Scheme
Repossession Property Yield Properties

Latest news

  • 10 September 2019 Many Home dwellers few are the first borrower applications

    Implementation of the Home plan has not begun with the best odds, as... read more

  • 3 September 2019 Home plan from tomorrow for 10 thousand borrowers

    After months of discussions, the Home Plan is being implemented from tomorrow... read more

  • 2 September 2019 July property sales hold steady Update

    The number of Cyprus property sales during July was the same as the number... read more

  • 29 August 2019 Cyprus real estate market review 2018

    In its annual Cyprus real estate market review, PwC reports that the... read more

  • 19 August 2019 Building permits authorised for 907 new homes

    Building permits authorised in Cyprus during May 2019 provided for the... read more

Encouraging the Troika estimates for 2016

Encouraging signs for the Cypriot economy , resulting from the new update scenario in the second evaluation of the loan program by the Troika.
 
In the memo tabled by Finance Minister Haris Georgiadis , to the Cabinet dated 28 November , which now reveals ANTENNA , the revision of the forecasts concerning the growth rate , public debt , current account balance , unemployment , income and government spending , revenues from taxes and spending on social policy.
 
Under the new macroeconomic scenario , by 2016 , as recorded in the memo of the Minister of Finance , the main figures estimated to be as follows. For the growth rate :
 
GROWTH
2013: -7.7 % ( -8.7 % Provisions Troika )
 2014: -4.8 % ( -3.9 % Provisions Troika )
 2015: 0.9 % ( 1.1 % Provisions Troika )
 2016 : 1.9 % ( 1.9 % Provisions Troika )
 
For the hot topic of unemployment , the rate for 2013 is expected to rise to 16.7 % compared with 17 % under the previous scenario Troika . For 2014 provided for deterioration due to continued steep adjustment in the labor market , with unemployment rising to 19.8 %. In 2015 and 2016 , provided a marginal improvement , but will remain at high levels .
 
LABOUR MARKET - UNEMPLOYMENT
2013: 16.7 % ( Provisions Troika -17 % )
 2014: 19.8 % ( 19.5 % Provision Troika )
 2015: 19% ( forecasts Troika 18.7 % )
 2016 : 17.7 % ( 17.5 % Provision Troika )
 
Inflation is expected to be at normal levels until 2016 :
 
INFLATION
2013: 0.8 % ( 1.0 % Provisions Troika )
 2014: 1.0 % ( 1.2 % Provisions Troika )
 2015: 1.5 % ( 1.6 % Provisions Troika )
 2016 : 1.7 % ( 1.7 % Provisions Troika )
 
 
Shown significantly improved the current account balance and even by 2014 is expected to be in surplus . While the primary balance , which in 2013 has worsened compared to the original estimates because of compensation granted to provident funds and pensions to former Democratic since 2014 , will begin to show significant improvement.
 
CURRENT ACCOUNT
2013: -1.4 % ( -2.0 % Provisions Troika )
 2014: 0.3 % ( -0.6 % Provisions Troika )
 2015: 0.2 % ( -0.3 % Provisions Troika )
 2016 : 0.0 % ( -0.3 % Provisions Troika )
 
Public debt remains unchanged and estimates that 2013 will reach 114 % of GDP . In 2014 , expected to rise to 124.4 % , while the 2015 and 2016 projected to fall to 120 % and 114 % , respectively, as a percentage of GDP .
 
PUBLIC DEBT
2013: 114% (€ 18,7 billion )
2014: 124,4% (€ 19,6 billion )
2015: 120% (€ 19,4 billion )
2016: 114% (€ 19,1 billion )
 
 
Social expenditure is projected to increase in 2014, to two billion 658 million euros , compared to two billion 573 million euros this year , an increase of 3 % . Due to rising costs of unemployment and redundancy , in conjunction with the non- adjustment of pensions .
 
SOCIAL EXPENDITURE
2014: € 2,658 billion . ( +3 % )
 2013: € 2,573 billion .
 
The Finance Minister will table in Parliament these changes , as provided in the Memorandum .

 

http://www.ant1iwo.com/oikonomia/2013/11/30/enuarryntikes-oi-ektimhseis-ths-troikas/