Government needs to preserve fiscal firepower amid Covid19 uncertainty, says Fiscal Council
The state needs to preserve its fiscal buffers and must not spend all of its reserves early as no one can predict the extend of the coronavirus pandemic, Fiscal Council President Demetris Georgiades told CNA.
His comments come amid a discussion that the government should increase its spending to provide additional cash injections to companies and households hit by the COVID19 health crisis. The government has announced support measures with a direct fiscal impact amounting to €369 million while combined with deferred income to boost liquidity the measures rise to €813 million while the government is considering a guarantee scheme amounting to €2 billion.
(CNA)
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His comments come amid a discussion that the government should increase its spending to provide additional cash injections to companies and households hit by the COVID19 health crisis. The government has announced support measures with a direct fiscal impact amounting to €369 million while combined with deferred income to boost liquidity the measures rise to €813 million while the government is considering a guarantee scheme amounting to €2 billion.
(CNA)
*The full text of the news item is available in the paid version of the CNA web service. Subscription Form
*CNA reserves the copyright to the news stories it files, which is granted to subscribers for specific use only.
from Cyprus News Agency
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