World Bank Says a Reunited Cyprus Would Boost Incomes by 7%

Αccording to a new report from the World Bank, a reunification of the island of Cyprus, accompanied by the appropriate supportive policies would see the income of both Greek Cypriots and Turkish Cypriot increase by 7%.

The report also said that within a decade following reunification, adding the G/c and the T/c growth rate would be boosted by an annual 0.4% and 1.8% respectively following a settlement. World Bank and the United Nations Good Offices Mission Cyprus made these findings public for the first time during the launch of the outcome of a gender-sensitive socio-economic impact assessment.

Divided since the 1974 Turkish invasion of the island, only Turkey recognizes the Turkish Republic of Northern Cyprus, while there is broad recognition that the ongoing military presence constitutes occupation of territories that belong to the Republic of Cyprus. In 1983, the Turkish Cypriot community unilaterally declared independence.

Even though many Cypriots desire a reunited Cyprus, the two sides of the discussion are still at loggerheads. Recently, the president of Turkish-occupied northern Cyprus warned the Mediterranean island faces permanent partition of its Greek and Turkish communities unless an agreement is swiftly reached.

Clearly, a reunited Cyprus is in the best interest of the people living on the island paradise. Northern Cyprus, in particular, has lost untold billions in tourism revenue owing to its isolation.