The successful vaccination rollout of Cyprus appears to have boosted households’ optimism and confidence in the coronavirus-affected economy of the state, according to Philenews.
The conclusion derives from the release on Monday of Central Bank of Cyprus’ deposits and loans statistics for the month of April.
These are included in the May 2021 edition of Monetary and Financial Statistics and show that total deposits in April recorded a net increase of €233,1 million, compared with a net increase of €270,2 million in March.
The annual growth rate in April stood at 2,3%, compared with 1,7% in March. The outstanding amount of deposits reached €48,4 billion in April.
Total loans in April recorded a net decrease of €78,6 million, compared with a net decrease of €19,9 million in March.
The annual growth rate stood at 1,6%, compared with 1,9% in March. The outstanding amount of total loans reached €31,3 billion in April.