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Cyprus C.Bank lowers output fcast for 2012, 2013
Reuters: Financials
Fri, 7 Dec 2012
NICOSIA, Dec 7 (Reuters) - Cyprus's Central Bank on Friday said it had revised lower its economic output estimates, forecasting a 3.5 percent contraction for the island in 2013, and a 2.4 percent contraction this year.
The EuropeanCentralBank has helped soothe short-term sovereign debt worries in Europe, but long-term competiveness must be improved for the crisis to fully fade away, says Morningstar's Dave Sekera.