CYPRUS: Bottom-of-list allows to tap EU structural funds

Cyprus is included in the fourth and last group of EU member states as regards the competitiveness of its manufacturing industry and as such can now benefit from the EU structural funds 2014-2020 to give its economy a boost.

In its report on Cyprus, the Commission notes that despite the fact that the economic adjustment programme by the Troika of international lenders is on the right path and recession is milder than it has been foreseen, a series of factors which during the last years have played an important role in the Cypriot economy, have now been hit by the crisis.

According to a report by the European Commission, industrial competitiveness varies widely per member state.

Looking at how well the member states are doing, and whether they are improving or not, four groups emerge:

1. Member states with high and improving competitiveness: the Netherlands, Germany, Denmark and Ireland.

2. Member states with high but stagnating or declining competitiveness: Belgium, the United Kingdom, Austria, France, Italy, Luxembourg, Sweden and Finland.

3. Member states with modest but improving competitiveness: Estonia, Lithuania, Spain, Latvia, Czech Republic, Hungary, Poland, Portugal, Romania, Slovakia and Greece.

4. Member states with modest and stagnating or declining competitiveness: Slovenia, Bulgaria, Croatia, Malta and Cyprus.