Georgiades: Cyprus economy returns back to growth

Cyprus entered its financial adjustment programme while in recession and is about to exit, with its economy back to growth, Finance Minister Harris Georgiades told the CAN on Tuesday.

Georgiades was speaking after a meeting in Brussels with the European Parliament’s Committee on Economic and Monetary Affairs.

The Finance Minister briefed members on the economic and financial situation in Cyprus, as the country is about to exit from the programme it has been implementing since 2013.

Georgiades told the CNA that he had the chance to brief members, “on the enormous effort for the adjustment, stabilisation 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,” concluded Georgiades.