NICOSIA, Dec. 29 (Xinhua) -- Economic sentiment for the revival of Cypriot economy improved further in December, almost two years after the introduction of a bail-out package for the eastern Mediterranean island, a survey shows on Monday.
The Economic Sentiment Indicator rose 2.1 points to 205.2 from November, according to a report released by the University of Cyprus Economic Research Center.
The Economic Sentiment Indicator moved above 100 points since May and has been rising since, giving a strong signal about economic recovery.
Cyprus was pulled back from bankruptcy in March, 2013 in a 10-billion-euro (12.17 billion U.S. dollars) package deal offered by the Eurogroup and the International Monetary Fund.
It involved a harsh austerity economic adjustment program and a radical restructuring of the country's overgrown banking sector.
The University of Cyprus study said there was an improved sentiment about the prospects of the economy both among businessmen and consumers.
The Cypriot economy performed much better than projections by international creditors and is expected to return to growth next year.
The Finance Ministry and the Central Bank expect a shallow recession of around 2.5 percent at the end of this year and a growth of between 0.4 and 1.0 percent in 2015.
