Moscovici and Dombrovskis send letter to Cyprus Finance Minister

Two European Union Commissioners, Pierre Moscovici is European Commissioner for Economic and Financial Affairs, Taxation and Customs, and Valdis Dombrovskis, European Commissioner for the Euro and Social Dialogue and Vice-President of the European Commission, have asked Cyprus Finance Minister Harris Georgiades to explain his views with regard to the medium term objective of a balanced budget in structural terms in 2017.

“A preliminary assessment of the DBP suggests that Cyprus plans to depart significantly from its medium term objective (MTO) of a balanced budget in structural terms in 2017. The structural balance is expected to deteriorate by 1.

Source: Cyprus News Agency.