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Cyprus: Economic Situation

Volume 486: debated on Wednesday 14 January 2009

To ask the Secretary of State for Foreign and Commonwealth Affairs what his assessment is of the prospects for the Turkish Cypriot economy; and if he will make a statement. (245190)

The economy is currently in recession. Settlement of the Cyprus problem is likely to bring very substantial economic benefits to both Greek Cypriots and Turkish Cypriots. The recent International Peace Research Institute, Oslo (PRIO) report estimated that the benefit for each Cypriot household would be 5,500 euros in average per year during the first seven years after a solution. The full report can be found at:

http://www.prio.no/files/manual-import/cypras/dayafter/Report-The%20day%20after.pdf