Cyprus-Forum.com

[zan]

Greece has a capitalist economy with the public sector accounting for about 40% of GDP and with per capita GDP at least 75% of the leading euro-zone economies. Tourism provides 15% of GDP. Immigrants make up nearly one-fifth of the work force, mainly in menial jobs. Greece is a major beneficiary of EU aid, equal to about 3.3% of annual GDP. The Greek economy grew by about 4.0% for the between 2003 and 2005, largely because of an investment boom and infrastructure upgrades for the 2004 Athens Olympic Games. Economic growth slowed to about 3% in 2005. Greece has not met the EU's Growth and Stability Pact budget deficit criteria of 3% of GDP since 2000. Public debt, inflation, and unemployment are above the euro-zone average. To overcome these challenges, the Greek Government is expected to continue cutting government spending, reducing the size of the public sector, and reforming the labor and pension systems.



Turkey's dynamic economy is a complex mix of modern industry and commerce along with a traditional agriculture sector that still accounts for more than 35% of employment. It has a strong and rapidly growing private sector, yet the state still plays a major role in basic industry, banking, transport, and communication. The largest industrial sector is textiles and clothing, which accounts for one-third of industrial employment; it faces stiff competition in international markets with the end of the global quota system. However, other sectors, notably the automotive and electronics industries, are rising in importance within Turkey's export mix. Real GNP growth has exceeded 6% in many years, but this strong expansion has been interrupted by sharp declines in output in 1994, 1999, and 2001. The economy is turning around with the implementation of economic reforms, and 2004 GDP growth reached 9%. Inflation fell to 7.7% in 2005 - a 30-year low. Despite the strong economic gains in 2002-05, which were largely due to renewed investor interest in emerging markets, IMF backing, and tighter fiscal policy, the economy is still burdened by a high current account deficit and high debt. The public sector fiscal deficit exceeds 6% of GDP - due in large part to high interest payments, which accounted for about 37% of central government spending in 2004. Prior to 2005, foreign direct investment (FDI) in Turkey averaged less than $1 billion annually, but further economic and judicial reforms and prospective EU membership are expected to boost FDI. Privatization sales are currently approaching $21 billion.

[miltiades]

Zan , that is enlightening , it seems that both of these countries are are financially not very attractive. Cyprus is in a far better position from either of these two.!!!

As far as the Turkish economic prospects it is crystal clear that EU membership is of the utmost importance for an economic improvement for Turkey. Let us hope that the obstacles faced by Turkey in its drive towards European membership will become less acute as time goes on.

[souroul]

Greece has a capitalist economy with the public sector accounting for about 40% of GDP and with per capita GDP at least 75% of the leading euro-zone economies. Tourism provides 15% of GDP. Immigrants make up nearly one-fifth of the work force, mainly in menial jobs. Greece is a major beneficiary of EU aid, equal to about 3.3% of annual GDP. The Greek economy grew by about 4.0% for the between 2003 and 2005, largely because of an investment boom and infrastructure upgrades for the 2004 Athens Olympic Games. Economic growth slowed to about 3% in 2005. Greece has not met the EU's Growth and Stability Pact budget deficit criteria of 3% of GDP since 2000. Public debt, inflation, and unemployment are above the euro-zone average. To overcome these challenges, the Greek Government is expected to continue cutting government spending, reducing the size of the public sector, and reforming the labor and pension systems.



Turkey's dynamic economy is a complex mix of modern industry and commerce along with a traditional agriculture sector that still accounts for more than 35% of employment. It has a strong and rapidly growing private sector, yet the state still plays a major role in basic industry, banking, transport, and communication. The largest industrial sector is textiles and clothing, which accounts for one-third of industrial employment; it faces stiff competition in international markets with the end of the global quota system. However, other sectors, notably the automotive and electronics industries, are rising in importance within Turkey's export mix. Real GNP growth has exceeded 6% in many years, but this strong expansion has been interrupted by sharp declines in output in 1994, 1999, and 2001. The economy is turning around with the implementation of economic reforms, and 2004 GDP growth reached 9%. Inflation fell to 7.7% in 2005 - a 30-year low. Despite the strong economic gains in 2002-05, which were largely due to renewed investor interest in emerging markets, IMF backing, and tighter fiscal policy, the economy is still burdened by a high current account deficit and high debt. The public sector fiscal deficit exceeds 6% of GDP - due in large part to high interest payments, which accounted for about 37% of central government spending in 2004. Prior to 2005, foreign direct investment (FDI) in Turkey averaged less than $1 billion annually, but further economic and judicial reforms and prospective EU membership are expected to boost FDI.
Privatization sales are currently approaching $21 billion.

i dont get it
whats your point

[Kartal_Aetos]

Greece has a capitalist economy with the public sector accounting for about 40% of GDP and with per capita GDP at least 75% of the leading euro-zone economies. Tourism provides 15% of GDP. Immigrants make up nearly one-fifth of the work force, mainly in menial jobs. Greece is a major beneficiary of EU aid, equal to about 3.3% of annual GDP. The Greek economy grew by about 4.0% for the between 2003 and 2005, largely because of an investment boom and infrastructure upgrades for the 2004 Athens Olympic Games. Economic growth slowed to about 3% in 2005. Greece has not met the EU's Growth and Stability Pact budget deficit criteria of 3% of GDP since 2000. Public debt, inflation, and unemployment are above the euro-zone average. To overcome these challenges, the Greek Government is expected to continue cutting government spending, reducing the size of the public sector, and reforming the labor and pension systems.



Turkey's dynamic economy is a complex mix of modern industry and commerce along with a traditional agriculture sector that still accounts for more than 35% of employment. It has a strong and rapidly growing private sector, yet the state still plays a major role in basic industry, banking, transport, and communication. The largest industrial sector is textiles and clothing, which accounts for one-third of industrial employment; it faces stiff competition in international markets with the end of the global quota system. However, other sectors, notably the automotive and electronics industries, are rising in importance within Turkey's export mix. Real GNP growth has exceeded 6% in many years, but this strong expansion has been interrupted by sharp declines in output in 1994, 1999, and 2001. The economy is turning around with the implementation of economic reforms, and 2004 GDP growth reached 9%. Inflation fell to 7.7% in 2005 - a 30-year low. Despite the strong economic gains in 2002-05, which were largely due to renewed investor interest in emerging markets, IMF backing, and tighter fiscal policy, the economy is still burdened by a high current account deficit and high debt. The public sector fiscal deficit exceeds 6% of GDP - due in large part to high interest payments, which accounted for about 37% of central government spending in 2004. Prior to 2005, foreign direct investment (FDI) in Turkey averaged less than $1 billion annually, but further economic and judicial reforms and prospective EU membership are expected to boost FDI.
Privatization sales are currently approaching $21 billion.

i dont get it
whats your point

none of us know souroul, none of us kno...lol

[zan]

It worked for miltiades, a true Cypriot. He can see things a lot clearer because he hates then both equally and realises that both are at fault and the futility of defending Greece as the centre of the world and Turkey as the ass. The one man here that does not need educating......well, not a lot any way.....

[Kartal_Aetos]

Zan , that is enlightening , it seems that both of these countries are are financially not very attractive. Cyprus is in a far better position from either of these two.!!!

As far as the Turkish economic prospects it is crystal clear that EU membership is of the utmost importance for an economic improvement for Turkey. Let us hope that the obstacles faced by Turkey in its drive towards European membership will become less acute as time goes on.

and if only we were free of politics and fighting aswell

[andri_cy]

Have you lived in both countries to make that statement?

Well no I haven't, I am not going to lie.
I am just sure that of all the international reports about Turkey, they cant all be lies or wrong. Either way it doesn't matter to me. None of the above referred countries is my country.

[zan]

Have you lived in both countries to make that statement?

Well no I haven't, I am not going to lie.
I am just sure that of all the international reports about Turkey, they cant all be lies or wrong. Either way it doesn't matter to me. None of the above referred countries is my country.

There used to be a rumour going around when I was younger that Japanese women’s’ private parts were actually side ways and not up and down. I believed that for years………………………………….. started in the USA I think.

[pitsilos]

you saying you are gullible?

whats new?

[andri_cy]

Have you lived in both countries to make that statement?

Well no I haven't, I am not going to lie.
I am just sure that of all the international reports about Turkey, they cant all be lies or wrong. Either way it doesn't matter to me. None of the above referred countries is my country.

There used to be a rumour going around when I was younger that Japanese women’s’ private parts were actually side ways and not up and down. I believed that for years………………………………….. started in the USA I think.

You are not saying the Americans are spreading unfair rumors about Turkey are you? why, I thought they were Turkey's most precious allies. Why would they lie like that?