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Cyprus says lenders anticipate shallower recession in 2014

Nicosia - International lenders concluding a fourth review of Cyprus’s bailed-out economy.

Nicosia - International lenders concluding a fourth review of Cyprus’s bailed-out economy anticipate a shallower recession in 2014 than initially expected, the island’s finance minister said on Saturday. Finance Minister Haris Georgiades said lenders had adjusted their projections on the depth of the island’s recession, now entering its fourth year. “It is anticipated at -4.2 percent from -4.8 percent,” Georgiades said.

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