Cyprus has achieved important progress in restructuring the banking system and along the path of the structural reforms necessary for the economy, but this does not mean that many risks remain for the Mediterranean country. This can be read in the latest report by the international creditors - the so-called troika - of the European Commission, the International Monetary Fund and the ECB, called to evaluate the measures developed so far by Nicosia in response to European requests.
The study highlights that important steps have been taken and steps are being taken to phase out capital control measures.
For the Cypriot gross domestic product, however, the estimate is of a contraction of 13% in the two-year period 2013/2014, before a return to a gradual expansion in 2015. Another serious emergency derives from the high unemployment rate which makes full implementation difficult point of economic reforms.
