Moody’s Credit Outlook issued on the 2nd of February 2017 is very positive and optimistic for Cypriot banks and Cypriot economy overall.
The agency said that the increase in bank deposits improves banks’ funding structures. Deposits in Cypriot banks in 2016 rose for the first time since the 2013 crisis. Moreover, Moody’s spoke of the country’s solid economic growth, lower unemployment and predicted a growth of 2.7% for 2017.
These positive news are very encouraging and yet another sign of the country’s economic recovery.