Cyprus Economy will lose €1b from coronavirus

Cyprus expects to lose significant wealth in 2020 since it is moving fast away from initial goals to raise GDP to €22.39 billion. And all this because of the coronavirus epidemic which has paralysed key sectors of the economy since mid-March. It is still unknown when basic sectors such as hotels, construction, trade and airlines will start operation again so that the economy is also activated. Data compiled by the Ministry of Finance estimating the Gross Domestic Product increasing by €895 million in 2020 compared to 2019 – that is, from €21.50 billion reaching €22.39 billion. These numbers are unapproachable now. In fact, the coronavirus national wealth damage is expected to be over one...