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Cyprus News Agency: News in English, 07-11-16

Cyprus News Agency: News in English Directory - Previous Article - Next Article

From: The Cyprus News Agency at <http://www.cyna.org.cy>


CONTENTS

  • [01] FINANCE MINISTER ECONOMY

  • [01] FINANCE MINISTER ECONOMY

    Cyprus is expected to record a fiscal surplus in 2007 of around 1.5 percent of GDP, said Finance Minister Michalis Sarris.

    He told a press conference that the governments vision is a competitive economy for the citizens welfare, adding that the economy is expected to achieve a remarkable rate of growth reaching 4.3 percent while inflation in 2008 is expected to reach higher levels.

    The Finance Minister said Cyprus is an expensive country with high salaries in specific sectors of the economy and described the high consumer credit and borrowing as a sign of prosperity.

    ``We have managed to exceed our expectations and balance public finances, with the result of a small surplus in 2007,`` Sarris told reporters. ``Our forecast is for a surplus of about 1.5 percent of GDP. It could be more or less, but approximately the figure will be about there,`` he added.


    Cyprus News Agency: News in English Directory - Previous Article - Next Article
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