Cyprus: are government policies making people worse-off?

Government policies in allocating resources implicitly promote consumerism, mass tourism and property development as the key drivers of economic growth

President Nikos Christodoulides and the Finance Minister Makis Keravnos claim that the Cyprus economy is performing well and cite as evidence rapid real GDP growth, relatively low unemployment, and the favourable reports of the IMF and credit rating agencies on the management of the economy and government finances.

But, are