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University of Cyprus ERC Boosts 2024 Economic Growth Forecast to 3.5%

The University of Cyprus Economic Research Centre (ERC) has updated its 2024 economic growth forecast for Cyprus, projecting a rise to 3.5% due to favorable economic conditions observed in early and mid-2024. The projection for 2025 remains steady at 3.3%. Key growth drivers include a stable labor market, controlled inflation, and lower interest rates, while ongoing positive trends in tourism, consumer spending, and vehicle registrations further boost economic activity. The ERC also mentions potential risks, including external economic conditions, fiscal policies, and geopolitical events that could impact growth stability.

ERC reports robust domestic indicators for the third quarter of 2024, including higher tourist arrivals, increased property transactions, and a reduction in unemployment. Nonetheless, it highlights that sustained reforms and investment are crucial to supporting projected growth and addressing potential challenges, such as climate risks and external inflation pressures.

It also underlines that “fiscal risks owing to pending infrastructure projects and incomplete reforms could lead to lower-than-projected growth. On the other hand, a stronger reform drive, new investments, and targeted measures to address cost-of-living pressures may result in better-than-forecast growth rates.”

Elevating Infant Nutrition: Nara Organics Unveils Premium Organic Formula

The Origins Of A Vision

When Esther Hallam welcomed her daughter Nara into the world, she immediately confronted a formidable challenge: identifying a trustworthy, high-quality organic infant formula. In a U.S. market dominated by cost-cutting practices—such as the use of skim milk supplemented with oils to meet nutritional standards—Hallam observed a disconnect between established availability and uncompromised quality. Research linking corn syrup to obesity and palm oil to reduced calcium absorption only reinforced her resolve to seek a safer alternative.

Redefining Industry Standards

Frustrated by the limitations of existing options, Hallam devoted seven years to developing an organic, whole-milk formula with the expertise of leading scientists and pediatric nutritionists. Nara Organics distinguishes itself by offering the highest percentage of milk fat of any formula on the U.S. market and a significantly reduced reliance on plant-based oils. The carefully selected blend of organic sunflower, coconut, and rapeseed oils not only meets nutritional needs but also minimizes potential health risks inherent to additives like palm oil, soy, and corn syrup.

Manufacturing Excellence In Germany

Rather than manufacturing domestically—a decision influenced by previous concerns over Cronobacter contamination in American facilities—Nara Organics leverages the advanced, oxygen-controlled production environment of a German facility, widely regarded as the birthplace of powdered infant formula. Chief Marketing Officer Meika Hollender detailed that their unique manufacturing process, which minimizes oxygen exposure during can sealing, substantially extends shelf life and preserves formula integrity, setting a new standard in infant nutrition.

Strategic Investment And Market Impact

Backed by $32 million from prominent investors including AlleyCorp, BBG Ventures, Corazon Ventures, Gingerbread Capital, and Torch Capital, Nara Organics has also garnered support from high-profile celebrity investors such as Serena Williams, Gina Rodriguez, and Nicky Hilton. This robust investment positions the company at the vanguard of an organic infant formula market projected to grow from $20.7 billion in 2023 to $37 billion by 2032.

Enhancing Consumer Accessibility And Community Commitment

Nara Organics is available for purchase directly via its website, subscription models, and a dedicated mobile app that assists parents in tracking essential aspects of infant care. To underscore its commitment to community well-being, the company is donating over 1,400 cans of formula to the Good+ Foundation, which strives to alleviate multi-generational poverty by providing essential services to under-resourced families.

By merging state-of-the-art production with a commitment to organic, high-quality ingredients, Nara Organics is poised to redefine the benchmarks of infant nutrition in a competitive, evolving market.

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