Cyprus' FinMin briefs Eurogroup teleconference of country's economic projections

Cyprus` Finance Minister Constantinos Petrides has briefed his eurozone counterparts during a Eurogroup teleconference of the government`s projections for the country`s economy in the coming years

In is intervention, Petrides stressed that Cyprus` economy is expected to be seriously affected by the pandemic as is the case with all European economies, noting that Cyprus has taken very strict measures to contain it in order to protect its citizens and the public health system, adopting a fiscal support and liquidity package equivalent to 15% of GDP, a press release by the Ministry of Finance says.

At the same time, Petrides briefed the Eurogroup that the Cypriot economy is expected to shrink significantly  in 2020 and a significant recovery in 2021, mainly supported by local demand.

In general, the government`s macroeconomic scenario is in line


*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
Read The
Powered by Blogger.