Minister of Finance Makis Keravnos welcomed the IMF Fiscal Monitor’s projections that Cyprus will reduce its public debt-to-GDP ratio to the Maastricht Treaty level of 60% sooner than anticipated, stating that this is a very positive development.
On Wednesday the IMF issued its April 2023 Fiscal Monitor projecting the reductio of Cyprus debt to GDP ratio to the 60% level, in 2026 a year earlier than its previous forecast.
The IMF’s projection, Keravnos said speaking to the press, ‘reaffirms the sound course of our economy and that Cyprus will reduce its public debt even faster.’
‘This is a very positive development in a period marked by geopolitical tensions, which of course the FinMin is monitoring closely and we all hope there will not be any further complications,’ the Minister concluded.
Source: Cyprus News Agency