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Topic: Economy of Cyprus

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  Cyprus Economy
Equally important, public finances are expected to continue improving, with the fiscal deficit forecast to decline to 2.9% of GDP in 2005, from 4.2% in 2004, and 6.3% in 2003.
The economy of the Turkish Cypriot-administered area is dominated by the services sector including the public sector, trade, tourism and education, with smaller agriculture and light manufacturing sectors.
The economy operates on a free-market basis, although it continues to be handicapped by the political isolation of Turkish Cypriots, the lack of private and governmental investment, high freight costs, and shortages of skilled labor.
www.traveldocs.com /cy/economy.htm   (1800 words)

 Economy of Cyprus   (Site not responding. Last check: 2007-10-20)
Economy - overview: Economic affairs in Cyprus are dominated by the division of the country into the southern (Greek) area controlled by the Cyprus Government and the northern Turkish Cypriot-administered area.
Erratic growth rates in the 1990s reflect the economy's vulnerability to swings in tourist arrivals, caused by political instability on the island and fluctuations in economic conditions in Western Europe.
Cyprus signed an Association Agreement with the European Union (EU) in 1972, which resulted in the establishment of a Customs Union between the two sides.
www.sciencedaily.com /encyclopedia/economy_of_cyprus   (1971 words)

 About Cyprus   (Site not responding. Last check: 2007-10-20)
Cyprus is classified among the high-income countries, with a per capita income of CY£9,477 in 2004.
The success of Cyprus in the economic sphere is attributed, inter alia, to the adoption of a market oriented economic system, the pursuance of sound macroeconomic policies by the government as well as the existence of a dynamic and flexible entrepreneurship and a highly educated labour force.
Cyprus’ participation in the Union’s internal market, an area where free movement of goods, services, persons and goods is ensured, will lead in the long term to a more efficient allocation of factors of production towards activities in which Cyprus possesses comparative advantages.
www.cyprus.gov.cy /cyphome/govhome.nsf/LookupIDs/1B6DE2644EDA9A46C2256A710039824A?OpenDocument&languageNo=1   (500 words)

 Other Document   (Site not responding. Last check: 2007-10-20)
Cyprus is the third largest island in the Mediterranean Sea, situated at the crossroads of three continents and in the trading paths of the first merchants of antiquity.
The government of the Republic of Cyprus has ratified major international conventions on maritime safety, the prevention of sea pollution, the training, certification and watch-keeping of seafarers, and the limitation of ship-owners' civil liability in case of oil pollution damage, as well as conventions on maritime labour.
Cyprus has also set up a network of inspectors of Cyprus’ ships, which is expanding constantly, now amounting to 35 inspectors covering 25 ports in 14 countries.
www.cyprus.gov.cy /cyphome/govhome.nsf/OtherUniversalidsLookup/F62217755FC92746C2256A7000418B0C?OpenDocument&languageNo=1   (1122 words)

 Cyprus Economy   (Site not responding. Last check: 2007-10-20)
Moreover, the economy is characterised by a low external debt service to exports ratio and a high international reserves to imports ratio.
Cyprus' main exports are potatoes, citrus fruit, clothing, chemicals and toiletries, machinery and transport equipment, cigarettes, wood and metal products, cement and footware.
Cyprus' main trading partner is the European Union accounting for about 55 percent of imports and 40 percent of exports.
agrino.org /hightech/cyprus/economy.htm   (374 words)

 Cyprus - The Economy
Cyprus benefited from the war, and in succeeding decades its economy grew at rates that matched those of other countries that profited from the general West European boom that began in the 1950s and lasted up to the first oil price increase of 1973.
Cyprus was affected in 1973 and 1979 by the first and second oil price increases, for it was almost completely lacking in domestic sources of energy.
The island's economy disintegrated as a third of its inhabitants fled their homes and livelihoods and many farming, manufacturing, and commercial relationships were shattered.
countrystudies.us /cyprus/33.htm   (1315 words)

 Cyprus Economy - GDP, Budget, Industry and Agriculture
Cyprus adopted a new copyright law in 1994 and a new patent law in 1998.
Cyprus signed an association agreement with the EU in 1972, which resulted in the establishment of a Customs Union between the two sides.
Cyprus applied for full EU membership in 1990 and began formal accession negotiations with the EU on March 31, 1998.
www.factrover.com /economy/Cyprus_economy.html   (2071 words)

 The Cyprus economy is rated positively   (Site not responding. Last check: 2007-10-20)
The satisfactory performance of the Cyprus economy regarding the rate of growth and macroeconomic stability is reflected in the reports of reputable international bodies, such as the EU, as well as the international rating agencies Fitch Ratings and Standard and Poor’s.
In the EC report on Cyprus, there are positive comments regarding developments in the financing system and particularly, the smooth transition of the economy to the new status of free interest rates.
It is stated in the report that Cyprus has accomplished significant progress in the harmonisation process with the adoption of the tax reform package in July 2002, and that the necessary structures are there for the effective implementation of the acquis communautaire.
www.kypros.org /PIO/cyprus/factsheets/07_economy.htm   (1010 words)

 Economy of Cyprus - Wikipedia, the free encyclopedia
Cyprus has an open, free-market, service-based economy with some light manufacturing.
In 1991, Cyprus introduced a Value Added Tax (VAT), which is currently 15% in line with the EU minimum.
Cyprus has the fourth-largest ship registry in the world, with 2,758 ships and 25.5 million gross registered tons (GRTs).
en.wikipedia.org /wiki/Economy_of_Cyprus   (1938 words)

 Economy of Cyprus -- Facts, Info, and Encyclopedia article   (Site not responding. Last check: 2007-10-20)
Economic affairs in (An island in the eastern Mediterranean) Cyprus are dominated by the division of the country into the southern (Greek) area controlled by the Cyprus Government and the northern Turkish Cypriot-administered area.
Erratic growth rates in the (The decade from 1990 to 1999) 1990s reflect the economy's vulnerability to swings in tourist arrivals, caused by political instability on the island and fluctuations in economic conditions in Western Europe.
Moreover, the small, vulnerable economy has suffered because the Turkish lira is (Something used as an official medium of payment) legal tender.
www.absoluteastronomy.com /encyclopedia/E/Ec/Economy_of_Cyprus.htm   (1943 words)

 Cyprus REPUBLIC OF CYPRUS - Flags, Maps, Economy, History, Climate, Natural Resources, Current Issues, International ...
The Turkish invasion and occupation of the northern 37 percent of the island severely disrupted the economy of the Republic of Cyprus.
The economy expanded at a 6 percent rate in real terms between 1974 and 1978, and by 1978 unemployment stood at about 2 percent, compared with 30 percent at the end of 1974.
Undoubtedly, the economy would face more intense competition in the 1990s, but its main asset, a versatile and educated human capital, could make the difference again as it had often done in the past.
www.photius.com /countries/cyprus/economy/cyprus_economy_republic_of_cyprus.html   (867 words)

 Cyprus (07/05)
Cyprus gained its independence from the United Kingdom and established a constitutional republic in 1960, after an anti-British campaign by the Greek Cypriot EOKA (National Organization of Cypriot Fighters), a guerrilla group that desired political union, or enosis, with Greece.
Cyprus maintains an embassy in the United States at 2211 R Street NW, Washington, DC 20008 (tel.
Cyprus is a member of the United Nations and most of its agencies, as well as the World Trade Organization, the World Bank, International Monetary Fund, Council of Europe and the British Commonwealth.
www.state.gov /r/pa/ei/bgn/5376.htm   (4683 words)

 Ekonomia - The journal of the Cyprus Economic Society   (Site not responding. Last check: 2007-10-20)
Estimates of the size of the underground economy in Cyprus are then discussed.
Using annual times series data for the period 1960-1990 the size of the underground economy in Cyprus is estimated to have averaged 8.8 per cent of GNP during the 1980s.
One of the important macroeconomic characteristics of the labour market in Cyprus which has attracted considerable attention is the exceptionally low rate of unemployment that has prevailed in the last thirty years.
www.ekonomia.ucy.ac.cy /contents/cje-v7n2.html   (398 words)

 Cyprus "TURKISH REPUBLIC OF NORTHERN CYPRUS" - Flags, Maps, Economy, History, Climate, Natural Resources, Current ...
Between 1963 and 1974, the economy of the Turkish Cypriot community was that of an underdeveloped society.
The rate of growth was 7.5 percent in 1988 and 7.1 percent in 1989, and similar growth was expected in 1990.
There was another cause of difficulties: because the "TRNC" was recognized only by Turkey, most international economic assistance to Cyprus from international organizations such as the World Bank (see Glossary) and the European Community (EC--see Glossary) went to the Republic of Cyprus.
www.photius.com /countries/cyprus/economy/cyprus_economy_turkish_republic_of~1442.html   (546 words)

 Cyprus -> Economy on Encyclopedia.com 2002   (Site not responding. Last check: 2007-10-20)
Fishing is an important industry in the Turkish sector, and the Greek side has a strong manufacturing economy (processed foods and beverages, paper, chemicals, textiles, metal products, and refined petroleum).
Prospects for Solving the Cyprus Problem and the Role of the European Union.
Reunification of Cyprus: the possibility of peace in the wake of past failure.
www.encyclopedia.com /html/section/Cyprus_Economy.asp   (458 words)

 Cyprus-Net.com : Business & Economy in Cyprus   (Site not responding. Last check: 2007-10-20)
Cyprus developers hotel holiday villa holiday map cyprus property home rent a car.
The Cyprus State Fairs Authority, the official organizer of fairs and exhibitions in Cyprus, is organizing a number of exhibitions every year with hundreds of participants from all over the world.
Cyprus university property for sale in cyprus nicosia cyprus job cheap flight cheap holiday cyprus property for sale best cyprus history holiday villa cyprus culture villa in cyprus newspaper mail cyprus bargain holiday in cyprus paphos government island cyprus school tourism hotel apartment limassol cyprus estate in real.
www.cyprus-net.com /browse/4/Business&Economy   (782 words)

 Presidents & Prime Ministers: Cyprus Economy: Status & Challenges.(Transcript)@ HighBeam Research   (Site not responding. Last check: 2007-10-20)
The continuous strengthening of this institution has a very positive impact on the Cyprus economy.
Our strategic target is to create a very powerful economy that is able to survive the competition in the European Union market and to further promote Cyprus as a regional center for the provision of services.
The coordinated efforts of the public and private sectors in recent years have born fruit and, as a result, the Cyprus economy has continued its satisfactory course.
www.highbeam.com /library/doc0.asp?DOCID=1G1:76626987&refid=ip_encyclopedia_hf   (182 words)

 globalEDGE (TM) | country insights - Economy of Cyprus   (Site not responding. Last check: 2007-10-20)
Cyprus, a full EU member since May 1, 2004, has a liberal climate for investments.
Cyprus has good business and financial services, modern telecommunications, an educated labor force, good airline connections, a sound legal system, and a low crime rate.
As a result, Cyprus has developed into an important regional and international business center.
globaledge.msu.edu /IBRD/CountryEconomy.asp?CountryID=52&RegionID=2   (1668 words)

 Cyprus - Economy
The service sector, mainly tourism and financial services, dominates the economy; erratic growth rates over the past decade reflect the economy's reliance on tourism, which often fluctuates with political instability in the region and economic conditions in Western Europe.
The Turkish Cypriot economy has roughly one-third of the per capita GDP of the south, and economic growth tends to be volatile, given north Cyprus's relative isolation, bloated public sector, reliance on the Turkish lira, and small market size.
The Turkish Cypriot economy grew 2.6% in 2004, fueled by growth in the construction and education sectors as well as increased employment of Turkish Cypriots in the Republic of Cyprus.
www.exxun.com /Cyprus/e_ec.html   (899 words)

 North Cyprus Economy - Currency
Following the 1974 division of the island, Turkish Cypriots adopted the Turkish Lira (TL) but the Cyprus pound remained legal tender until May, 1983.
In that year an extensive study was undertaken into the possibility of issuing a TRNC currency up to the level of foreign currency reserves, which were at the time substantial, but a political decision was taken that the Turkish Lira should remain the legal tender.
The Cyprus pound is now considered to be a foreign currency and is subject to foreign exchange regulations, but is used as a parallel-market trading currency together with British pound and US dollar.
www.cypnet.com /.ncyprus/economy/econ11a.htm   (199 words)

 Cyprus :: Commission predicts improvements in Cyprus economy
ECONOMIC prospects for Cyprus over the next 12 months are cautiously positive, according to the EU Commission’s Spring Forecast, but the projections are subject to the uncertainty of the effects of a Cyprus solution, which would cause fundamental changes.
The report issued yesterday said GDP growth for 2004 was projected to climb to 3.4 per cent, strengthening further to 4.1 per cent in 2005.
The forecast is for a gradually declining but still relatively high deficit of 4.6 per cent of GDP for 2004 and 4.1 per cent of GDP by 2005, somewhat above the government’s targets.
www.cyprus-forum.com /ntopic45.html   (487 words)

 Economy of Cyprus   (Site not responding. Last check: 2007-10-20)
Most of the farms are small, and farmers generally use traditional methods.
The chief mineral is copper, which was named for Cyprus (Greek Kypros) because the island was the main source of copper for the ancient world.
The basic unit of currency is the Cyprus pound (0.52 pound equals U.S.$1; 1994).
www.cyprusestates.net /economy_of_cyprus.html   (87 words)

 M2 Presswire: President Clerides -- Cyprus economy is characterised by robustness.@ HighBeam Research   (Site not responding. Last check: 2007-10-20)
President Clerides -- Cyprus economy is characterised by robustness.
The President of the Republic, Mr Glafcos Clerides, stated that the Cyprus economy is characterised by dynamism, flexibility and robustness, which are reflected both in the high standard of the per capita income and the very satisfactory living conditions.
Speaking yesterday at the Annual General Assembly of the Cyprus Chamber of Commerce and Industry, President Clerides said that Cyprus/...
www.highbeam.com /library/doc0.asp?DOCID=1G1:80957010&refid=ip_encyclopedia_hf   (176 words)

 The Economy of Cyprus.
This investigation provides an overview and analysis of the economy of Cyprus.
Although it includes a brief background discussion of the island’s economic history and its post-independence, pre-partition economy, the focus of the analysis is the economy of the Republic of Cyprus (Greek Cypriot—southern portion) during the period after the 1974 Turkish invasion.
The analysis details the current economic structure and conditions, and closely examines key economic issues with specific attention to the tourism industry, the lingering effects of partition, and the special relationship with the EU.
www.academicresearchpapers.com /abstracts/13000/13951.html   (87 words)

 MapZones.com : Cyprus Economy   (Site not responding. Last check: 2007-10-20)
After the fighting of 1974 separated the island, the economy suffered, but the Greek area showed a rapid recovery.
Between 1960 and 1973 the Republic of Cyprus, operating a free enterprise economy based on agriculture and trade, achieved a standard of living higher than most of its neighbours, with the exception of Israel.
Generous financial assistance was given by the World Bank and the International Monetary Fund in the form of loans for specific development projects, including electricity supply, port development, and sewerage systems.
www.mapzones.com /world/europe/cyprus/economyindex.php   (348 words)

 UN Annan Plan for the solution of the Cyprus question Consequences on the economy of Cyprus
An examination of the provisions directly affecting the economy suggest the technocrats who drafted the plan were not economists.
The international credit rating agency, Standard and Poor’s, in its latest report about Cyprus, noted the poor public finances (fiscal deficit for 2003 is six per cent of GDP) and noted that a settlement would put an additional burden on them.
This is not said in order to make a case against an agreement, but to draw attention to what we regard as fundamental weaknesses of the Annan plan, which, if not addressed, will put the very future of a settlement at serious risk.
www.unannanplan.agrino.org /economic_consequences.htm   (966 words)

 North Cyprus Economy - Manufacturing Sector
Northern Cyprus still maintains relatively higher tariff barriers against imports (than south) except for the relaxed tariffs on imports from Turkey.
Although North Cyprus exports (miscellaneous items such as non-stick cookware, carton boxes and others) are receiving special treatment, the recent overwhelming growth of the Turkish industry and the current lowering of the import tariffs are eroding the privileged position of the North Cyprus exports.
North Cyprus government have in recent years introduced a series of incentives to attract investment.
www.cypnet.co.uk /ncyprus/economy/econ04.htm   (648 words)

 Indbazaar - GeoFacts :: Economy of Cyprus   (Site not responding. Last check: 2007-10-20)
Economy—overview: Economic affairs are dominated by the division of the country into the southern (Greek) area controlled by the Cyprus Government and the northern Turkish Cypriot-administered area.
Economic policy in the south is focused on meeting the criteria for admission to the EU.
To compensate for the economy's weakness, Turkey provides direct and indirect aid to nearly every sector, e.g.
www.indbazaar.com /country/conpage.asp?cat=Economy&id=64   (550 words)

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