Recession-hit EU member Cyprus notched up its first positive growth in almost four years as GDP rose 1.5 percent in the first quarter, official figures showed on Tuesday.
The figure was fractionally lower than the 1.6 percent Q1 growth posted in a flash estimate last month, from a 0.4 percent dip in the previous quarter.
The Mediterranean island has put a stop to 14 successive quarterly economic contractions with its growth figures for January-March, the state statistical service said.
It is the first time the Mediterranean holiday island`s economy has registered growth since Q2 2011.
Seasonally adjusted data also showed that year-on-year the economy grew 0.2 percent in Q1 compared to a 1.8 percent retreat in 2014.
Last month, the European Commission forecast that Cyprus`s eurozone economy would contract 0.5 percent this year and grow 1.4 percent in 2016.
The state statistical service on Tuesday reported positive growth rates in hotels, trade, restaurants, electricity, communication, legal and accounting services in the first quarter.
But there was a contraction in construction and manufacturing.
The troika of international lenders -- the European Commission, European Central Bank and International Monetary Fund -- bailed out Cyprus in March 2013 to prevent a banking collapse.
Cyprus in return agreed to a harsh austerity programme but the country aims to exit from the bailout in 2016.
