EC: Cyprus is not doing enough to improve debt recovery & NPLs

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While Cyprus has made significant progress in reducing the islands non-performing loans (NPLs) which comprise roughly half the loan portfolio of Cypriot banks, and promoting investment, progress was limited in increasing the capacity of public employment services.

Even after the limited 2.8% economic growth last year, Cyprus’ expansion potential remains weak, constrained by limited implementation of structural reforms to support investments appropriately.