Place Credit Reports Cyprus Order
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Economy Overview:
The Republic of Cyprus has a market economy dominated by the service
sector, which accounts for 76% of GDP. Tourism and financial services
are the most important sectors; erratic growth rates over the past
decade reflect the economy's reliance on tourism, which often fluctuates
with political instability in the region and economic conditions in
Western Europe. Nevertheless, the economy grew a healthy 3.7% per year
in 2004 and 2005, well above the EU average. Cyprus joined the European
Exchange Rate Mechanism (ERM2) in May 2005. The government has initiated
an aggressive austerity program, which has cut the budget deficit to
below 3% but continued fiscal discipline is necessary if Cyprus is to
meet its goal of adopting the euro on 1 January 2008. As in the area
administered by Turkish Cypriots, water shortages are a perennial
problem; a few desalination plants are now on line. After 10 years of
drought, the country received substantial rainfall from 2001-03
alleviating immediate concerns.
GCS and Graydon International
Graydon International is a leading provider of business credit information around the world. Their business credit reports are easily read in English and consist of reliable and up to date details like identification and official company specifications, credit recommendations, known directors, protest and non-payments, operational details and financial data (profit and loss, balance and key credit ratios).
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