Cyprus reunification will affect economy development

According to Alexandros Apostolides, a head of the Economics Department of the European University of Cyprus, resolution of ‘Cyprus problem’ will stimulate the development of the country’s economy.

Apostolides noted that, after the reunification, for the next 20 years the GDP of the country will be increasing by 2.8% annually. A total growth of more than 20 billion euro can be expected, which will significantly reduce the income gap between two communities.

According to In Cyprus, the settlement of the Cyprus problem will positively affect both northern and southern parts of the island and will reduce the unemployment rate among Greek Cypriots from 10% to 5%.