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Cyprus to Complete Adjustment Programme in March Says FinMin

georgiades6Cypriot Finance Minister Harris Georgiades sent a message of optimism with regard to the Cypriot economy, pointing out that Cyprus will complete its adjustment programme in March.
On Monday, speaking before the European Parliament`s Economic and Monetary Affairs Committee in Brussels, he said that what he is presenting is “a story of economic recovery, optimism and prospect.”
“We have come a long way, we have a second chance and we are determined to make the best of it”, he stressed.
Staff teams from the International Monetary Fund (IMF), the European Commission (EC), and the European Central Bank (ECB), had said that Cyprus has made great progress on implementing the policies of the program during a visit to Nicosia last November.
Cyprus’ programme, which is supported by financial assistance from the European Stability Mechanism (ESM) and the IMF, aims to promote economic recovery and job creation by restoring financial sector stability, strengthening public finances, and implementing reforms to increase long-run growth.
(With information from CNA)

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