What will Cyprus’s economy look like in 2022?
FocusEconomics analysts see GDP growing 4.1% in 2022, which is unchanged from last month’s forecast. In 2023, our panel sees the economy expanding 3.6%. 5 years of Cyprus economic forecasts for more than 30 economic indicators.
What happened to the Greek Cypriot economy?
GDP of the Greek Cypriot sector dropped by about one-third between 1973 and 1975. Through vigorous efforts, real growth was resumed in the area that remained under the control of the government of the Republic of Cyprus, and between 1975 and 1983 the annual rate of growth was estimated to average about 10 percent.
What is the GDP per capita of Cyprus?
The Cypriots are among the most prosperous people in the Mediterranean region, with GDP per capita in 2020 exceeding $27,000 in nominal terms and $40,000 on the basis of purchasing power parity.
Why is Cyprus so successful?
The success of Cyprus in the economic sphere has been 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 labor force.