Nicosia: The Council of Ministers was about to authorize on Tuesday the Ministry of Transport to sign an agreement with TAIPED Fund of Greece regarding the development and upgrading of the marina and port of Larnaca, the President of the Republic, Nikos Christodoulides, said in his opening remarks at the beginning of the Cabinet meeting, at the Presidential Palace. Addressing the Cabinet members, he spoke of developments concerning the marina and port of Larnaca.
According to Cyprus News Agency, the President emphasized the significance of the decision, highlighting a prior extensive meeting with local stakeholders in Larnaca. He stated, “Today, we are authorizing the Ministry of Transport to proceed with the signing of a relevant agreement with the Hellenic Republic Asset Development Fund (TAIPED) regarding the optimal development and upgrading of the marina and port of Larnaca. The role of the port is crucial, and we are moving forward today with this decision as agreed with the local authorities and stakeholders in Larnaca.”
In addition, the President mentioned the European Commission’s spring forecast, which he described as crucial, particularly at the current time. He noted that the forecast confirms the economy’s resilience and stability, which reflects responsible policy-making. The growth is forecast to reach 3% in 2025 and 2.5% in 2026, surpassing the eurozone average and other strong EU Member States amidst ongoing global instability.
Furthermore, the President highlighted positive economic indicators, such as continued export growth, reduced inflation, and a significant budget surplus that supports social policies. He also pointed out the historic reduction of public debt below 60% and the record low unemployment rate since 2008.
The Council of Ministers also planned to approve an action plan for talent repatriation, set to be announced in London. This initiative, organized in collaboration with the Cyprus Chamber of Commerce and Industry and Invest Cyprus, aims to bring skilled professionals back to Cyprus. The President expressed gratitude to those involved in developing this plan and noted the high level of interest, with over 750 participants registered. The event will be broadcast online to accommodate additional interest.