European Stability Mechanism’s Wim Van Aken and International Monetary Fund’s Wojciech Maliszewski, heads of the respective institutions’ missions in Cyprus, expressed their satisfaction with the performance of the Cypriot economy in a meeting with Finance Minister Makis Keravnos on Friday, noting at the same time the need for continued implementation of prudent fiscal policy to meet the challenges ahead.
The economic situation in Cyprus and internationally, as well as recent developments in the financial sector in the US and Europe, were the main topics of discussion during the meeting.
According to Ministry a statement, during the meeting there was an exchange of views on the current economic challenges, including the high levels of inflation, the impact of the significant increase in interest rates, as well as the uncertainty caused by recent developments in the financial sector in the US and Europe.
The Finance Minister provided an update on the state of the Cypriot economy, highlighting the fact that it has shown particular resilience in a particularly challenging environment, with high growth rates and fiscal surpluses, and stressed that the new government’s economic policy is firmly committed to fiscal discipline and financial stability.
For their part, Van Aken and Maliszewski have expressed, according to the statement, their satisfaction with the performance of the Cypriot economy, noting the need to continue to implement prudent fiscal policy to address the challenges ahead, and stressed that the recent upgrade of the Republic of Cyprus’ credit rating by Fitch demonstrates the good management of the economy.
Source: Cyprus News Agency