Essay on The Economy Of Cyprus During The 1960 ' S

955 Words Nov 14th, 2016 4 Pages
A lot has changed since my grandparents build their house in the early 1960’s. The economy of Cyprus from 1960 to 1974 performed very well, and the gross domestic product (GDP) increased at an average annual rate of about 7 percent in real terms. The economy of Cyprus was devastated in 1974 by the Turkish invasion and the subsequent occupation of the northern 37 percent of the island. Serious problems included a large number of refugees (about a third of the populations), fragmentation of the island 's market, and the loss by the government-controlled area of land containing raw materials, agricultural resources, and important infrastructure facilities. The economy of Cyprus was threatened with complete collapse. The need for reconstruction and development was critical mainly at aiding the refugees, then living in camps, by establishing a housing program for them. The plans also directed the government to stimulate the economy by adopting expansionary fiscal and monetary policies. The results were positive. The economy expanded by about 6 percent per year in the following years which is why my parents invested in building a house. The course of architectural expression in Cyprus can be called regeneration of architecture, but I would say that Architecture in recent years finds its way. The way conceived by architects of Cyprus from 1960 to 1974 and that this path was violently interrupted in 1974. From 1960 to 1974 the Cypriot architects designed all over Cyprus…

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