NICOSIA (Reuters) - Bailed-out Cyprus expects a return to growth in 2015 after three years of recession, its finance minister said, barring further headwinds from external economic developments.
"We are close to the exit of a recession. We do remain however restrained and cautious and are closely following some external developments which may affect us," Finance Minister Harris Georgiades told parliament in his annual budget speech.
He did not elaborate on which 'external developments' could affect Cyprus, but said in another section of his speech that economic recovery in Europe was anaemic and that Russia was heading into recession.
(Reporting By Michele Kambas, editing by John Stonestreet)