Insider Economy Government: Reforms would further consolidate the growth climate in Cyprus

Government: Reforms would further consolidate the growth climate in Cyprus

The implementation of structural reforms would further strengthen and deepen the positive growth climate characterizing the Cypriot economy, Government Spokesman Prodromos Prodromou said commenting on the release of the quarterly Economic Bulletin issued by the Central Bank for December 2018.

The CBC said Cyprus will continue recording strong growth rates until 2021.

“The CBC bulletin confirms the projections for strong growth in the coming years and underlines the strong investment activity and the inflow of foreign capital, which is consistent with the expansion of the economy,” Prodromou said in a written statement.

With regard to the total investments of €3 billion until 2021 in the fields of energy, tourist infrastructure, the casino and in the tertiary education referred to in the bulletin, Prodromou notes that these “could be the basis for a diversified economic model by exploiting the country’s comparative advantages.”

“With regard to the government’s policies,” he added, “we underline that this positive growth climate will be strengthened and deepened with the implementation of structural reforms which would strengthen the strategy for growth, such as the operation of the Deputy Ministry for Tourism, the implementation of development provisions of the investment law, the reforms in the Local Government and the public sector and the systematic promotion of research, innovation and entrepreneurship.”

He also highlighted the projected reduction of unemployment estimated to decline to 5.4% in 2021, as well as the restructuring of the banking sector.

CNA

Top Stories

Fourteen new corona virus cases detected out of 3,387 tests

According to the Epidemiological Surveillance Unit of the Ministry of Health 14 new cases of the SARS-CoV-II virus were detected out of a total...

Steps taken for the reduction of nuisance in cities

Measures are being taken by police to alleviate the phenomenon of public nuisance caused during the night hours in the cities. In addition to daily...

Remdesivir quantities in Cyprus – fight against Covid-19 intensified

Health Minister Konstantinos Ioannou said that Cyprus has received quantities of the medicine Remdesivir, strengthening its arsenal in the fight against the corona virus. In...

Three people wanted for shoplifting in Paphos

A store owner in Paphos made a formal complaint to police on Thursday claiming that three people - two men and a woman who...

Archaeologists find 1800-year-old entrance to historic Zerzevan castle in eastern Turkey

The 1800-year-old entrance to historic Zerzevan Castle, which is on the UNESCO World Heritage Tentative List has been unearthed by archaeologists in eastern Turkey. Excavations...

Taste

Octopus ‘Kathisto’ (or Octopus braised in Wine)

Ingredients: 1/2 cup Greek extra virgin olive oil 2 medium onions, chopped fine 1 large octopus, about 2kg (cleaned and kept whole) 3/4 cup dry red wine 1/3 cup...

Homemade lemonade

Ingredients: 1 cup lemon juice 1 cup sugar Method: Thoroughly wash the lemons with soap and warm water. Roll each lemon with the palm of your hand, pressing...

‘Striftaria’ mini cheese pies

Ingredients 1 ½ cup milk 2 tbsps. flour 4 tsps. of butter 3 eggs, slightly beaten + 1 extra with 1 tbs. of milk for spreading 1 pack of...

Mini potato canapes baked on salt

Ingredients Serves: 12 1kg small Cypriot potatoes rock salt, as needed 250g salted butter 300ml full fat cremé frâiche 1 pot cod or salmon roe Method Prep:20min › Cook:35min › Ready in:55min Take...