Norman Logistics Sp.zo.o.: Risks Related to Brexit and National Debt will not injure the Stability of the Economy of Cyprus

Author: Rolands Petersons
Source: Rolands Petersons

2019, when looking at the economy on the European scale, may provide different surprises, and one of the reasons is the expected brexit or the withdrawal of Great Britain from the European Union. Already now the economists consider that this decision might affect both the economy of Great Britain itself and the economy of other European countries. Cyprus is one the European countries that during the last years has experienced wonderful economic recovery and development , and there is a reason to find that, irrespective of different possible risk factors, the national economy will continue to strengthen also in 2019, says Rolands Petersons (Pētersons) (Latvia), Member of the Board of Norman Logistics Sp.zo.o.

The economic indicators of the last quarter of 2018 show that the economy of Cyprus had a stable development, the data for the first quarter of 2019 also indicate the economic stability.  "In the case of Cyprus, among the risk factors, there shall be indicated the uncertainty related to brexit, as well as the national debts. However, the present forecast provided by economists shows that these risk factors will not become an obstacle for the further development of economy," comments R. Petersons, Member of the Board of Norman Logistics Sp.zo.o.

Reklāma

The forecast provided by economists are very positive on the whole. It has been pointed out that in 2019 the gross domestic product (GDP) of Cyprus might increase by 2 – 3.5%, as well as it is expected that the national debt will be lower than 100% in comparison to GDP.   "The development of economy will bring the increase of the number of workplaces that, according to the forecast, might exceed 400 thousand, reaching the highest indicator in Cyprus up to now," adds R. Petersons.

The forecast shows that in 2019 the youth’s unemployment also will decrease. According to the economists’ calculations, one of the guarantees for the stable economy of Cyprus will be domestic demand – it is forecasted that the expected increase of the level of workplaces and remuneration will facilitate the consumers’ expenditure.  "The combination of the increasing employment level and higher salaries means that the expenditure of households will maintain its leading role in relation to the economic development. It will enable the local retailers to develop, and it is good news for the local business," points out R. Petersons.

Norman Logistics Sp.zo.o. is an international logistics company based in Poland since 2016. This company operates in Europe and also in many other major logistics centers in the world. The core business is a cargo brokerage, mainly marine cargo. Norman Logistics customers are significant EU companies which his production transport throughout marine cargo. And service providers is medium or large shipping companies. The mission of Norman Logistics is convenient logistics and one point service for the same price, individual and best quality approach.

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