EC sees GDP shrinking by 7.75% as pandemic takes toll on tourism

  The severe impact of coronavirus on Cyprus’ tourism sector spells trouble for the economy with real GDP expected to contract by 7¾% in 2020 and to partially recover in 2021 by 5¼%, the European Commission said on Tuesday. Even if the expected gradual recovery begins in July, revenues from tourism could hover around 25% … Continue reading EC sees GDP shrinking by 7.75% as pandemic takes toll on tourism