Need to intensify our successful fiscal policy and address NPLs says Government Spokesman

Government Spokeksman Prodromos Prodromou has welcomed IMFs post program monitoring on Cyprus, pointing out that we need to intensify the successful fiscal policy and address some issues, i.e. the NPLs.

In a written statement Prodromou noted that IMF, which is undoubtedly the most important international economic organization, certifies through a thorough study that Cyprus is in a prospect of growth that may even be accelerating in the next few years and could lead to stabilization.

He said that attention should be drawn both to the need to continue and deepen the successful economic policy pursued and the recommendations made on various issues.

Prodromou referred to the NPLs and the need to take measures to address the issue as well as to IMFs recommendations on amending the current framework for insolvency and foreclosure to improve payment discipline. The Spokesman also pointed out that the IMF has welcomed the boosted recovery of the economy, which was accompanied by a continuing decline in the unemployment rate, a primary financial surplus and a narrowing of the public debt ratio.

Source: Cyprus News Agency