chief of mission: Ambassador Andreas KAKOURIS chancery: 2211 R Street NW, Washington, DC 20008 telephone: [1] (202) 462-5772, 462-0873 FAX: [1] (202) 483-6710 consulate(s) general: New York note: representative of the Turkish Cypriot community in the US is Hilmi AKIL; office at 1667 K Street NW, Washington, DC; telephone [1] (202) 887-6198
Diplomatic representation from the US:
chief of mission: Ambassador Frank C. URBANCIC, Jr. embassy: corner of Metochiou and Ploutarchou Streets, 2407 Engomi, Nicosia mailing address: P. O. Box 24536, 1385 Nicosia telephone: [357] (22) 393939 FAX: [357] (22) 780944
Flag description:
white with a copper-colored silhouette of the island (the name Cyprus is derived from the Greek word for copper) above two green crossed olive branches in the center of the flag; the branches symbolize the hope for peace and reconciliation between the Greek and Turkish communities note: the "Turkish Republic of Northern Cyprus" flag has a white field with narrow horizontal red stripes positioned a small distance from the top and bottom edges between which is centered a red crescent and a red five-pointed star
Economy
Cyprus
Economy - overview:
The area of the Republic of Cyprus under government control has a market economy dominated by the service sector, which accounts for 78% of GDP. Tourism, financial services, and real estate are the most important sectors. Erratic growth rates over the past decade reflect the economy's reliance on tourism, which often fluctuates with political instability in the region and economic conditions in Western Europe. Nevertheless, the economy in the area under government control grew by an average of 3.6% per year during the period of 2000-06, well above the EU average. Cyprus joined the European Exchange Rate Mechanism (ERM2) in May 2005 and adopted the euro as its national currency on 1 January 2008. An aggressive austerity program in the preceding years, aimed at paving the way for the euro, helped turn a soaring fiscal deficit (6.3% in 2003) into a surplus of 1.5% in 2007. As in the area administered by Turkish Cypriots, water shortages are a perennial problem; a few desalination plants are now on line. After 10 years of drought, the country received substantial rainfall from 2001-04 alleviating immediate concerns. Rainfall in 2005 and 2006, however, was well below average, making water rationing a necessity in 2007.
GDP (purchasing power parity):
$21.4 billion (2007 est.)