Cyprus will support every effort by Greece for recovery, FinMin says

Cypriot Finance Minister Harris Georgiades has expressed the governments position that it will support every effort Greece makes to achieve economic recovery and his view that the constant imposition of taxes at times of recession is unproductive and should be avoided.

In statements after having had a meeting with former Greek Deputy Minster of Finance Christos Staikouras, in Nicosia, on Thursday, Georgiades expressed his conviction that the Greek economy can break away from recession and the difficulties it has been experience in recent years.

“I believe that Greece has an infinite productive capacity, a tremendous prospect, which should be taken advantage of,” he pointed out.

He continued noting that creating conditions of stability and confidence is a prerequisite and that uncertainty and delays are not helpful as to the goal at hand.

The Cypriot Minister also expressed a position, which he has told his Eurozone colleagues at Eurogroup meetings as he said, that he is opposed and troubled by a continuation of policies containing the imposition of additional taxes.

It is my view, he added, that the constant imposition of “of taxes at times of recession is unproductive and should be avoided.”

This, he noted, is how we operated in Cyprus. Of course, he clarified, “in order to achieve this we had to reduce public expenditure but ever since by keeping a steady course and a balanced budget we were able to grant significant tax incentives and credits.”

Harris Georgiades further pointed out that “we need to liberate the productive forces within our countries, support our citizens and businesses so that economic activity can be encouraged and facilitated.”

He reiterated “the Cypriot governments clear position that it will support every effort Greece makes to achieve the recovery of its economy.”

Asked to comment on a recent report including Cyprus in a number of countries affected by Brexit Georgiades did not wish to comment without having studied it first.

Nevertheless, he said, “I have stressed many times that certainly there will be negative consequences and opportunities and through a careful economic policy our goal is to limit the dangers and to make the most of the opportunities.”

On his part the Greek MP said that during a meeting earlier with DISY President Averof Neofytou he expressed his support to the efforts of the Cypriot government to reach a just, viable and functional solution of the Cyprus problem.

Referring to his meeting with the Cypriot Finance Minister, he said that on Greece he reiterated his partys longstanding view that the review of its adjustment programme must be completed as soon as possible and in the most beneficial way for Greece. Unfortunately, he added, valuable time has been lost.

At the same time he congratulated Georgiades on “a successful political management of the countrys finances and for Cyprus fast exit from the economic crisis.”

Source: Cyprus News Agency