1. Heat olive oil in a large pot over medium-high heat. Toss beef chunks with flour, salt, and pepper, then brown them in the pot. Remove and set aside.
2. In the same pot, sauté onion, garlic, and carrots until softened. Add tomato paste, thyme, and paprika, cooking for 1-2 minutes.
3. Return beef to the pot, pour in beef broth, and add potatoes. Bring to a boil, then reduce heat to low and simmer for 1.5-2 hours until beef is tender and the broth is thickened.
4. Meanwhile, boil the potatoes for the mash until tender. Drain and mash with milk, butter, and salt.
5. Serve the beef stew over creamy mashed potatoes, garnished with fresh parsley if desired.