Cyprus Minister of Finance holds talks on the size and funds of the next MFF with EU Commissioners

Finance Minister Konstantinos Petrides held a series of contacts with regard to the negotiations of the next EU Multiannual Budget, aiming to secure adequate funds for Cyprus, following his participation at the Eurogroup and ECOFIN Council in Brussels.

The Minister announced that he is meeting with Cohesion Commissioner Elisa Ferreira and Budget Commissioner Johannes Hahn, on the Multiannual Financial Framework (MFF 2021-27), seeking to maintain the overal size of the MFF and just distribution of Cohesion and Agriculture funds as well as on the areas of research, innovation, and migration.

“We seek to maintain the size of the MFF at comparable levels to the current period. Emphasis is placed on the need to provide adequate resources to Cyprus for Cohesion and Agriculture Policies. A very important element for Cyprus is the level of expenditure on the areas of research and innovation, but also of migration”, he stated.

His round of contacts in Brussels concludes with a meeting with the Director-General for Structural Reform Support Maarten Verwey.

Furthermore, during the ECOFIN Council meeting today, the first under the Croatian Presidency, Minister Konstantinos Petrides exchanged views “on the tax challenges arising from digitization”. The Minister noted that at the same Council, the Commission also presented the economic and financial aspects of the European Green New Deal, and the respective Investment Plan (EGDIP).

Yesterday, during the Eurogroup, the Minister provided his counterparts and representatives of the eurozone institutions with assurances that prudent fiscal policy, structural reforms and a policy of reducing NPLs will continue.

In detail, as the Minister noted in a written statement: “in my first participation to the Eurogroup meeting held yesterday in Brussels, I had the opportunity to assure my colleagues and representatives of the institutions of the three pillars of the Governments economic policy priorities: maintaining a prudent fiscal policy and further reducing public debt, reducing NPLs, and continuing and completing the series of reforms we have enacted. “

The Minister discussed in detail the Governments economic policy with Eurogroup President Mario Centeno during a bilateral meeting before the Council.

Lastly, the Minister met yesterday with Commissioner Stella Kyriakidou, with whom he exchanged views “on the main European policies, especially those that concern or concern Cyprus”, but also with the Greek Minister of Finance, Christos Staikouras, who agreed to have “an open dialogue and coordination on all Eurogroup and ECOFIN issues, especially when it comes to Cyprus and Greece”.

Source: Cyprus News Agency