According to the latest International Monetary Fund estimates, its per capita GDP (adjusted for purchasing power) at $30,769 is just above the average of the European Union.[citation needed] Cyprus has been sought as a base for several offshore businesses for its low tax rates. Tourism, financial services and shipping are significant parts of the economy. Economic policy of the Cyprus government has focused on meeting the criteria for admission to the European Union. The Cypriot government adopted the euro as the national currency on 1 January 2008. COUNT 4
QSN1 What is the per capita GDP of Cyprus given by the IMF? ANS1 $30,769 QSN2 What are three of the largest contributors to the Cyprus economy? ANS2 Tourism, financial services and shipping QSN3 When was the Euro declared as the national currency of Cyprus? ANS3 1 January 2008 QSN4 Why has Cyprus been sought out by offshore businesses? ANS4 low tax rates