The unequivocal commitment of the Government is to create the conditions for a thriving, sustainable economy, the President of the Republic Nikos Christodoulides said Monday, in a recorded message at the New York – Eastern Mediterranean Business Summit by Economist titled “A new momentum for geopolitics and investment, Greece-Cyprus-Israel”.
He pointed once again the importance of the trilateral partnership and its expansion into the 3+1 format and also referred to the measures taken as regards the recent secondary sanctions by the US and the UK.
President Christodoulides said that the trilateral Cooperation Mechanism between Cyprus, Greece and Israel, provides concrete benefits for our citizens and ranges from defense and security to energy, from innovation and science to culture and from healthcare to education.
“The positive geopolitical impact of this format was soon appreciated and expanded in the three plus one, with the participation of the US”, he said.
President Christodoulides said that in recent years, the Cyprus economy has proven its remarkable resilience adding that despite the challenges as a result of the illegal invasion of Russia in Ukraine affecting the global economy, Cyprus continues to demonstrate above EU average growth rates. But he went on to say, we remain vigilant.
“Our aim is to strengthen the competitiveness and extroversion of the Cypriot economy, on the basis of a new and modern growth model. Furthermore, in our proposed programme, a strong economy is pivotal. This will be achieved through our full commitment to fiscal discipline, a strong financial system and the continuous pursuit and implementation of structural reforms”, he noted.
In his recorded message the President also underlined that the Government attaches great importance on fostering a healthy and stable banking system and financial sector, since we believe that a robust financial system is essential for economic stability and growth.
He spoke of the reform agenda that includes a comprehensive tax reform, as well as the implementation of the public service, justice and local government reforms, which directly affect the daily operation of businesses. He said that the Government also fully endorses digital and green investments and research and innovation, leveraging European funding opportunities.
“Regarding the recent secondary sanctions by the US and the UK, our Government is determined to fully investigate these cases and take all measures necessary, showing zero tolerance. In this respect we have cooperated fully, since day one with the US and UK authorities. The Council of Ministers approved this month, a series of concrete measures in this direction”, the President underlined.
He said that we will continue on the path of prudent fiscal policy, to promote bold reforms and to maintain the stability and credibility of the banking and financial system.
“This is reinforced by a multifaceted foreign policy, which focuses on enhancing international partnerships and bolstering the geostrategic role of Cyprus. As it is stipulated in Vision 2035, our long-term strategy for a resilient economy for the country, we want Cyprus to be one of the best countries to live, work and do business in”, he said.
The President assured that we will continue working tirelessly, with a vision, for an economy that unlocks the potential of foreign businesses and investment, driving economic growth and creating mutually beneficial partnerships with international stakeholders.
Source: Cyprus News Agency