Notable economic performance for Cyprus

The international economic and geopolitical developments, as well as the current situation and prospects of the Cypriot economy, were discussed at a meeting between the Minister of Finance Konstantinos Petrides and the Executive Director of the IMF Paul Hilbers, who is on an official visit to Cyprus.

The remarkable economic performance achieved by the Republic of Cyprus in recent years is particularly important at a time of global macroeconomic instability, IMF Executive Director Paul Hilbers stressed to Finance Minister Konstantinos Petrides, who in turn assured him that the Cypriot economy has now entered a path of stability and has changed structurally.

In statements, the Minister of Finance said that during their meeting, the Executive Director of the IMF, who is making his first official visit to Cyprus, expressed his thanks "for the very important and creative cooperation that existed in recent years between Cyprus and the IMF".

Mr. Petrides also said that Mr. Hilbers told him that the reduction of public debt, the correction of public finances, but also the growth rates achieved by the Republic of Cyprus in recent years were not only remarkable, but also disproved upwards the IMF's own forecasts, which is very important.

"He also stressed that this performance is particularly important at a time of global macroeconomic instability," the MIC added.

Mr. Petrides said he thanked Mr. Hilbers for the cooperation and assured him that this cooperation will continue with the change of Government.

The IMF also said that he also assured the Executive Director of the IMF that "the Cypriot economy has now entered a path of stability and has changed structurally" and expressed confidence that this course will continue because in Cyprus there is continuity in terms of economic policy, while there is also a long-term plan, Vision 2020, for all the Governments that will follow.

Source:  ΔΝΤ: Αξιοσημείωτες οικονομικές επιδόσεις για Κύπρο (philenews.com)