File - Chairs and tables sit near graffiti in the old city of the Cypriot capital Nicosia, on March 14, 2014. AFP PHOTO/PATRICK BAZ
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Cyprus' Finance Ministry announced Friday that Cypriots can each now transfer 50,000 euros ($57,000) abroad, up from the previous limit of 20,000 euros.Cyprus' recession deepened in the fourth quarter of 2014 as gross domestic product shrank by 0.7 percent from the previous three-month period, official data showed Friday.It was the steepest fall in more than a year and followed a third quarter decline of 0.3 percent.In July-September 2014 the Cypriot economy contracted 1.8 percent year-on-year.
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