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WEEKLY NEWSLETTER
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Cyprus
Index
The construction industry was an important segment of
the
Turkish Cypriot economy and provided about 10 percent of
employment
and about 7 percent of GDP in the late l980s. Demand for
housing,
especially for the refugees displaced by the events of
1974,
extensive work on the infrastructure, and a rapidly
expanding
tourist industry accounted for much of this activity.
Governmentfinanced housing programs for civil servants also helped
maintain
the construction industry. The cost of government
-financed housing
of this kind was cheaper than in the private sector and
permitted
ordinary wage-earners to become homeowners.
Data as of January 1991
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