Cyprus still projects notable growth in 2016| MENAFN.COM

Thursday, 18 August 2022 07:22 GMT

Cyprus still projects notable growth in 2016

(MENAFN) Cyprus's economy is forecasted to increase 1.5 percent over the current year after climbing 1.4 percent throughout the previous year, according to the latest reports.

The positive projections came on the back of the island's low-tax environment which supports business attractiveness and the strong implementation of the 2013 bailout terms.

Cyprus has been sought as a base for several offshore businesses for its low tax rates, let alone its tourism, financial services and shipping are extensively expanding year after year.

Moreover, Because of the heavy influx of tourists and foreign investors, the property rental market has grown recently, thus followed by a series of incentives to stimulate the property market.

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