Debate on the quality and social impact of Cyprus economic growth model

Dr. Stelios Platis and other commentators argue that Cyprus is facing a significant political dilemma regarding its economic development model. While the government highlights positive growth rates, investments, and construction projects, critics point to the adverse effects on small and medium-sized enterprises. Small businesses and self-employed individuals are struggling, while the cost of living, particularly rent, has become a burden for younger generations. Experts suggest that the focus on selling land, passports, and tax advantages has created wealth for a minority rather than broad social benefit. The controversial 'golden passports' scheme is cited as an example of systemic corruption that damaged the country's international reputation. There is an urgent call for policies that prioritize productive, locally-based entrepreneurship to stabilize the middle class. The debate emphasizes that the decline of smaller businesses is not merely a technical economic issue but a fundamental social and democratic concern.