Government welcomes S&Ps action to place Cyprus in positive outlook

Government welcomes S&Ps action to place Cyprus in positive outlook

The government has welcomed Standard and Poor’s decision to revise the outlook of the Cyprus economy to positive, reflecting their assessment of the improvement of the country`s public finances, Deputy Government Spokesman Victoras Papadopoulos has said in a written statement.

The agency revised the Cypriot outlook citing the “faster than expected reduction of the Cypriot general government debt, supported by less adverse economic growth prospects than previously.”

“It is important for the outlook of the Cypriot economy to be rated as positive by the particularly strict Rating Agencies that are also important for the international markets,” Papadopoulos said.

He noted however that “it is the duty of all of us not only to safeguard this positive outlook but also to strengthen it, collectively and responsibly.”

CNA/GS/MM/2015
ENDS, CYPRUS NEWS AGENCY