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The purpose of this note is to show the differences between some key indicators used by Euro Area Member States in their 2016 Stability Programmes (SP) and the spring 2016 forecast of the European Commission (EC).

Cyprus exited the IMF extended fund facility arrangement on 7 March 2016, more than two months before it was set to expire. Cyprus is also to exit the ESM financial assistance programme on 31 March 2016. Against this background, this note provides an overview of the latest economic, fiscal and financial sector developments in Cyprus and recalls the main elements of the above-mentioned programme. This note is an updated version of the briefing provided to the ECON Committee in view of an Economic ...