Cyprus President hails continued growth of the economy

Cypriot President Nicos Anastasiades hailed the continued growth of the Cypriot economy, which, as he noted, exceeded all expectations and reached 3.3%.

Cyprus economy expanded by 3.3% year on year on seasonally adjusted data, marking the highest quarterly growth since the financial crisis of 2013, according to a flash estimate released today by Cystat, Cyprus’s statistical service.

In a written statement the President expresses his satisfaction which is shared by all, because through the collective effort and sacrifices of our people we achieve the gradual restoration of the full recovery and the success of our goals.”

He also notes that current developments show that persistence and consistency in a sound fiscal policy, the trust in the necessary reforms, attracting investment, strengthening the countrys international credibility are the only feasible components that create the conditions of stability, security and prospect for the future.

“At the same time, the growth recorded, creates the necessary conditions to gradually and effectively address the problems that the economic crisis has caused to our people,” he adds.

He finally assures the Cypriot people that the Government will continue with the same determination, so that the country does not return to the unpleasant conditions of the past.

On his part, Minister of Finance Harris Georgiades pointed out that achieving a growth rate of 3.3% in the first quarter of 2017 has surpassed all expectations, noting at the same time the need to hold a steady course.

“We have an obligation to our fellow citizens to hold a steady course with collective efforts and credible policies, to fully cover the lost ground, ” says the Minister.

Source: Cyprus News Agency