Reforms bear fruit, but must be accelerated and fiscal consolidation safeguarded Troika PPS mission says

“The reforms undertaken by Cyprus during the program have started to bear fruit with robust economic growth and positive developments in the financial sector”, fiscal consolidation is crucial and has to be safeguarded, Non Performing Loans are being reduced, but still remain high, while the pace of structural reforms has considerably slowed, “it is crucial to renew the reform momentum”, especially on public administration, the national health system, setting up a sustainable and efficient title deeds transfer system, modernizing the justice system and pursuing the efforts towards privatization and the reform of the electricity market.

These are the basic findings of the post-programme surveillance (PPS) troika mission to Nicosia last week, according to an official publication of Directorate General of Economic and Financial Affairs of the European Commission

Source: Cyprus News Agency