Cyprus entered its financial adjustment programme while in recession and is about to exit, with its economy back to growth, the Finance Minister of Cyprus Harris Georgiades has told the Cyprus News Agency.
He was speaking after a meeting, in Brussels, with the European Parliament’s Committee on Economic and Monetary Affairs, where he briefed members on the economic and financial situation in Cyprus, as the country is about to exit from the programme it is implementing since 2013.
Georgiades told CNA that he had the chance to brief Committee members “on the enormous effort for the adjustment, stabilization and recovery of the Cypriot economy” and “explain that this difficult effort has brought about tangible results”.
With Cyprus having completed the programme, the country will no longer be included in the list of EU problems but will be in a position to contribute to joint Union goals, the Minister concluded.
CNA/THA/AGK/GV/2016
ENDS, CYPRUS NEWS AGENCY