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.


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