Cyprus's annual economic growth slowed to 4% in the first quarter of the year from 4.3% in the fourth quarter of the previous year, the statistical office said Tuesday. A year ago, the Gross Domestic Product, or GDP, rose 4.5% year-on-year.
However, the economy expanded at a faster pace of 1% quarter-on-quarter, compared to 0.8% growth recorded in the previous quarter. Yet, the growth rate is slower compared to 1.3% increase in the same period of the previous year.
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