ESM issues advice on Cyprus to follow through with the “implementation of envisaged reforms in the areas of local government, justice, and public administration”, that “would invigorate Cyprus’ economic potential”, in its annual report, endorsed today by its` board of governors, that convened earlier today in Luxemburg, where the Eurogroup will take place this month.
ESM notes on its Cyprus` chapter in the report that `the economic outlook for the Cypriot economy depends on the duration of the pandemic and continued policy support”.
“A persistent health crisis weighing on external and domestic demand would threaten businesses and employment, particularly in the tourism sector”, ESM notes.
Source: Cyprus News Agency