Fiscal Council concerned over FinMin’s over-optimistic growth projections

The Fiscal Council expressed concern over the Finance Ministrys over-optimistic objections on which the budget and expenditure ceilings are based on, the Council Chairman Demetris Georgiades has said.

Speaking to a press conference for the presentation of the Councils Autumn report, Georgiades also expressed concern over the government’s tax reductions without implementing mitigating measures.

Georgiades pointed out that the European Commission is expressing concerns over the deterioration of Cyprus structural deficit (the deficit without cyclical adjustments and one-off developments) projected to deteriorate from 0.

Source: Cyprus News Agency.