CYPRUS and Slovenia lead the pack of European Union candidates in terms of economic performance, a survey from the European statistical agency Eurostat said yesterday, with Cyprus also coming in ahead of member states Greece, Spain and Portugal.
According to the survey, after stagnant economic growth in 1999, the 13 candidate countries had returned to encouraging economic growth of five per cent in 2000, compared to 3.3 per cent seen for the European Union.
Recovering from a disastrous 1999 (-4.7 per cent growth) because of a catastrophic earthquake, Turkey had the highest growth among the 13 candidates in 2000, recording a 7.2 per cent increase. It was followed by Latvia and Estonia with 6.6 and 6.4 per cent growth respectively.
Romania posted the weakest growth of the group with 1.6 per cent, while Cyprus remained more or less the same as in 1999 with 4.8 per cent growth compared to 4.5 per cent the previous year.
Cyprus, however, led the group with annual GDP per capita of 14,200 euros, followed by Malta with 9,900 and Slovenia with 9,800.
Turkey was third from last with 3,200 euros per capita, followed by Romania, 1,900 euros, and Bulgaria with 1,600 euros.
Using the three key indicators of annual growth, GDP per head in PPS (Purchasing Power Standard) and economic size, Cyprus and Slovenia were well ahead of the rest.
Consolidating healthy growth rates throughout the 1990s, the two countries were in the most advantageous position of the 13 candidate countries.
Cyprus remains the closest of all candidate countries to the EU average in per capita GDP and purchasing power, attaining 82 per cent of the EU-wide average, ahead of members states Greece (68 per cent of the EU average), Portugal (74 per cent) and Spain (81 per cent).
The Cyprus Mail is the only English-language daily newspaper published in Cyprus. It was established in 1945 and today, with its popular and widely-read website, the Cyprus Mail is among the most trusted news sites in Cyprus. The newspaper is not affiliated with any political parties and has always striven to maintain its independence. Over the past 70-plus years, the Cyprus Mail, with a small dedicated team, has covered momentous events in Cyprus’ modern history, chronicling the last gasps of British colonial rule, Cyprus’ truncated independence, the coup and Turkish invasion, and the decades of negotiations to stitch the divided island back together, plus a myriad of scandals, murders, and human interests stories that capture the island and its -people. Observers describe it as politically conservative.
