S&P upgrade confirms Cyprus growth prospects and sustainable fiscal path, FinMin says

Fridays upgrade by Standard and Poors confirms the Cypriot economys growth prospects as well as the stable and sustainable fiscal path, Minister of Finance Harris Georgiades has told CNA, reaffirming the governments commitment to a balanced budget policy.One year after Cyprus exit from an economic adjustment programme funded by the EU and the IMF, S&Ps upgraded on Friday Cyprus long-term credit rating to BB+ from BB in its second consecutive upgrade since last September.

Source: Cyprus News Agency