The major issue that dominates today’s financial press is the preliminary report of IMF for Cyprus economy.
The “Economy” inset of newspaper “Phileleftheros” under the title “IMF: Merits to Cyprus economy” mentions that Central Bank’s current monetary policy is approved. The report also refers to IMF’s suggestions towards the government and the official authorities of country’s financial system. Specifically, the IMF recommends persistence in the fiscal discipline, reforms in the labour market, restructuring of pensions and avoidance of covering investors’ losses in the Stock Exchange.
According to the report, the decrease of economy’s dependence on foreign income and the restraint of the difference between imports and exports of goods and services will depend on the degree of realization of the program of fiscal restructuring of the Ministry of Finance for a deficit obliteration until 2005.
Elsewhere, the newspaper highlights that the Ministry of Commerce has revised its estimates over tourist arrivals for 2002. The decline in tourism is now to reach 12%-12.5% against 14% as previously expected.
The “Economic” inset of newspaper “Alithia” under the title “IMF: Cyprus before remarkable changes” refers to the press conference of IMF’s head in Cyprus, Gian Maria Milesi-Ferretti. According to Mr. Ferretti, although Cyprus’ economy has strong foundations and excels all other EU candidate countries, there is an acute need for application of the Pre-accession Economic Program and particularly the aims of the fiscal restructuring.
Elsewhere, the newspaper reports that the effectiveness of the suspension of the 3% rate to CTO is controversial.
The newspaper “Simerini” under the title “The Bank of Cyprus has become a ‘compass’” stresses that the CSE rally continues, as the stock of CSE’s largest listed company surged in ASE last Friday, as well. The report also quotes that PASEHA urges investors to be particularly careful, as “there must be a catch, as in 1999”.
Elsewhere, the newspaper mentions that the issue of the renewal of collective bargaining remains stagnant.
The “Economy” inset of newspaper “Phileleftheros” under the title “IMF: Merits to Cyprus economy” mentions that Central Bank’s current monetary policy is approved. The report also refers to IMF’s suggestions towards the government and the official authorities of country’s financial system. Specifically, the IMF recommends persistence in the fiscal discipline, reforms in the labour market, restructuring of pensions and avoidance of covering investors’ losses in the Stock Exchange.
According to the report, the decrease of economy’s dependence on foreign income and the restraint of the difference between imports and exports of goods and services will depend on the degree of realization of the program of fiscal restructuring of the Ministry of Finance for a deficit obliteration until 2005.
Elsewhere, the newspaper highlights that the Ministry of Commerce has revised its estimates over tourist arrivals for 2002. The decline in tourism is now to reach 12%-12.5% against 14% as previously expected.
The “Economic” inset of newspaper “Alithia” under the title “IMF: Cyprus before remarkable changes” refers to the press conference of IMF’s head in Cyprus, Gian Maria Milesi-Ferretti. According to Mr. Ferretti, although Cyprus’ economy has strong foundations and excels all other EU candidate countries, there is an acute need for application of the Pre-accession Economic Program and particularly the aims of the fiscal restructuring.
Elsewhere, the newspaper reports that the effectiveness of the suspension of the 3% rate to CTO is controversial.
The newspaper “Simerini” under the title “The Bank of Cyprus has become a ‘compass’” stresses that the CSE rally continues, as the stock of CSE’s largest listed company surged in ASE last Friday, as well. The report also quotes that PASEHA urges investors to be particularly careful, as “there must be a catch, as in 1999”.
Elsewhere, the newspaper mentions that the issue of the renewal of collective bargaining remains stagnant.
3287.99
1275.09
