Insider Business President urges party leaders to approve state guarantees bill

President urges party leaders to approve state guarantees bill

President Nicos Anastasiades told political party leaders on Monday that the government has submitted its final proposal regarding the bill on state-guaranteed loans and asked them to avoid making further amendments that would alter it or render it unworkable, Finance Minister Constantinos Petrides said.

The Minister was speaking after a meeting of the Council of political party leaders, under the President, that took stock of the country’s financial state of play. Participants were told that the government prepared a comprehensive stimulus package for the economy, initiating more than 57 measures to support the economy, worth more than €1.2-1.3 billion Petrides noted.

He also said that state’s fiscal margins are not infinite and that they should avoid making pledges that go beyond the state’s public finances and which may endanger the country’s economic trajectory.

Petrides also said that there was an extensive discussion concerning the government bill on state-guaranteed loans, with the government side pointing out the extensive consultation that took place with the political parties at the House Finance Committee and the discussion on amendments “with which the government may have had reservations.”

“The President said that the government submitted its final proposal to the House and asked them to avoid making further amendments, that would either alter the scheme’s character and philosophy, or render it unworkable” the Minister said.

He pointed out that businesspeople look forward to this plan, while smaller businesses will receive direct funding, in line with party proposals. We need to end the discussion and provide the market with the necessary tools, the Minister of Finance said.

Petrides expressed finally hope that parties will conclude their discussion, taking into account the President’s suggestions, during a House Finance Committee meeting later this afternoon.


Top Stories

Higher fines for traffic offences move step closer

    Higher fines for traffic offences, long sought by police to reduce the number of road accidents, came a step closer today after the House...

64.8% of hospitalised Covid patients were male – weekly report

The Thursday report of the Health Ministry's Epidemiological Surveillance Unit has found that as of May 26 64.8% of all hospitalised Covid-19 patients (114...

Two more test positive to Covid-19, both through tracing

There were two new Covid-19 cases in Cyprus the Health Ministry said, both found through tracing the contacts of confirmed cases (60 tests today),...

Burial in Turkish-held north of enclaved G/C permitted 20 days after death

  Turkish Cypriot authorities yesterday finally allowed the remains of an enclaved Greek Cypriot from the Turkish-occupied village of Ayia Triada who died 20 days...

Additional relaxations in new Health Ministry decree

  Pleasure boats and sea sports are back, under conditions, following a decree issued on Thursday by Health Minister Constantinos Ioannou, CNA reports. The new decree...


Local cuisine: An introduction

Rich in fresh ingredients and tasty herbs, offers the very best of Mediterranean culinary delights. Head out to a tavern and feast on a...

Spiced lamb with beetroot salad and scented yoghurt

Lay the lamb on a tray, skin side down. Rub with crushed garlic, sprinkle with spices and ground pistachios, wrap in plastic wrap and...

Easy seafood pasta with white wine sauce

Ingredients: 2-3 tbsp olive oil 1 garlic clove, chopped 2-3 tablespoons of whipped cream 1/3 cup white wine 300g spaghetti, roughly broken 300-400g of...

Traditional salads that will blow your mind away

This traditional salads will make you actually love salads! Cyprus may be famous for souvla and kleftiko but if you try the traditional salads with...