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Top Attractions in Cyprus

Cyprus 2011

Posted on March 8, 2021April 23, 2022 by internetsailors

Yearbook 2011

Top Attractions in Cyprus

Cyprus. An explosive fire in an armory at the naval base Evangelos Florakis in southern Cyprus July 11 had far-reaching political and economic consequences. Nearly 100 containers of seized Iranian explosives, mostly gunpowder, were over-torched and 13 people, among them the navy’s highest commander Andreas Ioannides, were killed. The fire spread to the country’s largest electric power plant, located right next door. It was switched off, which led to recurring power cuts for several months. Visit ABBREVIATIONFINDER for the acronym of CYP that stands for the country of Cyprus.

Economy

Inflation rate 0.70%
Unemployment rate 11.1%
Gross domestic product (GDP) $ 31,780,000,000
GDP growth rate 3.90%
GDP per capita $ 37,200
GDP by sector
Agriculture 2.00%
Industry 12.50%
Service 85.50%
State budget
Revenue 7.725 billion; Northern Cyprus: 685.7 million
Expenditure 8.005 billion Northern Cyprus 432.8 million
Proportion of the population below the national poverty line –
Distribution of household income
Top 10% k. A.
Lower 10% k. A.
Industrial production growth rate 1.50%
Investment volume 20.4% of GDP
National debt 97.50% of GDP
Foreign exchange reserves $ 879,100,000
Tourism 2014
Number of visitors 2,441,000
Revenue $ 3,015,000,000

 

The accident caused political chaos. According to Countryaah official site, thousands of Cypriots demonstrated against the government having allowed the gunpowder to be stored in the solar gas on the fleet base. Defense Minister Costas Papacostas and Foreign Minister Markos Kyprianou resigned. The middle party DIKO (the Democratic Party) left the government coalition and the left party AKEL (Workers’ Progress Party) was forced to form a new government based on only 19 of 56 seats. In the May 22 parliamentary elections, the right-wing party DISY (Democratic Assembly) had become the largest party with 20 seats, an increase of two. AKEL had lost a mandate but was able to continue to govern together with DIKO.

The power outages hit the economy hard while the country’s banks had large sums lent to the crisis-hit Greece. Three credit rating agencies downgraded Cyprus during the year.

Cyprus announced in December that natural gas had been found on its own water off the southeast coast near an Israeli gas field. Turkey, which believes that Cyprus’ natural resources should also benefit the Turkish Cypriots, protested against the Cypriot drilling plans and sent its own vessels to nearby waters. No breakthroughs were reached during the year in the negotiations for a united island nation between President Dimitris Christofias and Turkish Cypriot President Derviş Eroğlu.

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