The Cyprus economy has exited recession and is registering positive economic growth, which is projected to be maintained, President of the Republic of Cyprus Nicos Anastasiades has said. He noted, however, that the banking sector still has challenges to face, the biggest of which is the restructuring of Non-Performing Loans.
The President, who on Saturday inaugurated, the new building of the Bank of Beirut and the Arab Countries (BBAC) in Limassol, said in his speech that the results of the efforts for Cyprus’ economy are already visible and recalled that only last week Cyprus managed to issue a new 10-year bond at a satisfactory yield, following successive upgrades of its sovereign rating by rating agencies.
(Source: CNA)
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