Cyprus

The Republic of Cyprus declared its independence in 1960. Prior to its independence, Cyprus had a history of a weak economy and financial distress. This has continued into the years following independence. The economy relies heavily on agriculture, which accounts for 16 percent of the gross domestic product and 45 percent of the labor market. Social services were historically provided by religious or [Page 321]philanthropic organizations. Between 1960 and 1974 there was growth and economic development in industry and services that led to urbanization and women in the labor market. During this time period policies, social insurance, and financial assistance for those in great need were also established. The Turkish invasion, in 1974, greatly impacted the development of Cyprus. More than 200,000 people were displaced, ...