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Cyprus Economy Set For 3.4% Growth In 2024: Key Sectors Driving Prosperity

According to the latest figures from the Statistical Service, the Cyprus economy is projected to grow by 3.4% in real terms in 2024. When considering current price estimates, the Gross Domestic Product (GDP) is expected to expand by 6.6%.

Leading Sectors Fueling Growth

The primary sectors driving this impressive growth include:

  • Hotels and Restaurants
  • Information and Communication
  • Construction
  • Wholesale and Retail Trade, Vehicle Repair

These sectors have been vital in maintaining a robust economic trajectory despite various challenges.

Notable 2.6% Growth In Q4 2024

In the fourth quarter of 2024, the growth rate reached 2.6% compared to the same period in 2023. Adjusting for seasonal variations and workdays, growth stands at 2.9%.

Sectors Contributing To Q4 Growth

The continued expansion during the last quarter was mainly due to:

  • Hotels and Restaurants
  • Wholesale and Retail Trade
  • Information and Communication

It is important to note that the Construction sector faced a downturn during this period.

The overall expected 3.4% growth for 2024 reinforces a positive outlook for the Cyprus economy, highlighting its resilience and capacity to adapt in a dynamic global landscape. For further insights on this economic outlook, consider reading about how Cyprus inflation trends are shaping the financial landscape.

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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