Testing the Resilience of the Turkish Cypriot Economy : A Macroeconomic Monitoring Note - Special Issue : Enhancing Competitiveness and Promoting Economic Integration / World Bank Group.

Format:

Book

Author/Creator:

World Bank Group, author, issuing body.

Language:

English

Subjects (All):

Financial statements.

Physical Description:

1 online resource

Other Title:

Testing the Resilience of the Turkish Cypriot Economy

Place of Publication:

Washington, DC : World Bank, 2023.

Language Note:

English.

Summary:

The Turkish Cypriot economy (TCe) has struggled to recover since the onset of the COVID-19 pandemic in early 2020. With a contraction of 16.2 percent in GDP in 2020, when the COVID-19 pandemic first took hold, the TCe experienced the most severe recession in its history, and the most severe recession among the economies of Europe. Moreover, just as other economies were beginning to recover, in 2021 the TCe underwent a phase of exceptional political uncertainty and numerous exogenous shocks, testing its resilience. With the emergence of new variants of the virus, the COVID-19 pandemic continued to adversely impact the TCe throughout 2021, with cases reaching a new peak at the end of 2021 despite the Turkish Cypriot (TC) administration's efforts to prevent the spread of the virus, together with its support for the health system, households, and companies.

Notes:

Description based on publisher supplied metadata and other sources.

Publisher Number:

10.1596/39503