Is Cyprus politically stable?
Despite the political problem the Republic of Cyprus has a stable political environment based on a presidential system. Executive power is exercised by the President elected by universal suffrage for a 5-year term and his Council of Minsters (appointed, not elected).
Is Cyprus a rich island?
The people of the Greek zone are among the most affluent in the world. According to the World Bank’s Development Report, Cyprus is ranked 16th in terms of per capita income adjusted for purchasing power. In 1988 per capita income was US$15,500, according to the CIA World Factbook .
Is Cyprus in a recession?
Despite the COVID-19 doomsday scenarios, the Cyprus economy shrunk -5.1% GDP, less than any estimate made by the government or European Union monetary bodies, Finance Minister Constantinos Petrides said Tuesday.
What is the current economic situation in Cyprus?
Cyprus Economic Growth
FocusEconomics analysts see GDP growing 4.5% in 2021, which is down 0.4 percentage points from last month’s forecast. In 2022, our panel sees the economy expanding 4.0%.
Is Cyprus a good country to live?
Cyprus is certainly not perfect, but it is an exotic little island, offering the stability of being inside the EU, good networking opportunities, low tax pressure and amazing weather for all the sun seeking entrepreneurs out there. Moreover, the crime rate is very low, and it’s one of the safest countries in the world.
How safe is Cyprus?
OVERALL RISK : LOW. Cyprus is generally very safe to travel to, even though it is geographically close to countries hit by terrorism and wars. Petty crime does occur, especially during the holidays and summer.
What is the average salary in Cyprus?
How much does a person working in Cyprus earn? They earn an average salary of 3,430 EUR every month or 41,200 EUR per year. This is the gross salary before deductions, meaning it’s inclusive of housing and transport benefits. For hourly-paid employees in Cyprus, the average salary rate is 20 EUR/hour.
What is the main industry in Cyprus?
MAJOR INDUSTRIES: Agriculture, Cement, Chemicals, Fishing, Food Processing, Mining, Non Electric Machinery, Petroleum Refining, Textiles and Clothing, Tourism, Wine Making. MAIN EXPORTS: Asbestos, Cement, Chemicals, Cigarettes, Citrus Fruits, Footwear, Potatoes, Wine.
What religion is Cyprus?
Christians make up 78% of the total Cypriot population. Christianity includes the Greek Orthodox Church of Cyprus, the Armenian Church in Cyprus, Maronite, Roman Catholicism, and Protestants. Most Greek Cypriots are members of the Autocephalous Greek Orthodox Church of Cyprus (Church of Cyprus).