Cyprus governor says 2009 GDP will shrink
The economy of the Republic of Cyprus will contract by more than 1% this year after figures for the third quarter showed GDP shrank by some 1.3%, with growth in 2010 expected to be weak at best, said Athanasios Orphanides, governor of the Central Bank of Cyprus.
His forecast confounds the optimism of the central bank and European Commission earlier this year that the country would be one of the few European Union economies to register any economic growth this year, with 1.1% predicted by the
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