For purposes of timely briefing, the Central Bank of Cyprus (CBC) publishes its macroeconomic projections for the Cyprus economy separately from its biannual Economic Bulletin. The English Bulletin will be published in July 2011 on the CBC website and will incorporate these projections as well as a broader analysis of macroeconomic developments and financial stability conditions.
The projections are prepared biannually, in Autumn and Spring, within the framework of the Eurosystem projections. The projections for the Eurosystem are used by the European Central Bank’s Governing Council for the evaluation of economic developments and possible inherent risks to price stability. The preparation of euro area projections is undertaken by national central bank and European Central Bank staff, based on common working assumptions.
The attached CBC projections refer to the expected path of the Cyprus economy up to 2012.