Today’s financial press deals mostly with yesterday’s political developments and the draft peace plan.
The “Economy’ inset of newspaper “Phileleftheros” under the title “Unfavourable deposits” refers to the issue of fixed deposits. According to the report, the rate of inflation, the interest cuts and the new taxation make fixed deposits unfavourable for all those who seek for a return on their savings - unlike last year when returns were certainly higher and more attractive for depositors. The newspaper also mentions that the Cypriot citizens turn to deposits since there are no other alternatives.
The “Economy” inset of newspaper “Simerini” under the title “Compromise for loans” refers to investment loans and points out that the Ministry of Finance, the Mps and representatives from the commercial banks association are in talks over a compromising formula, avoiding though to adopt the legislative regulation, as previously discussed.
The “Economic” inset of newspaper “Alithia’ deals with the political developments and the peace plan in relation to the development of Cyprus economy. “Provided that the imminent solution will bring about political security in Cyprus, I strongly believe that the growth rate and the external investments will increase”, said the Minister of Finance, Takis Klerides. Mr. Klerides also stressed that a good solution will improve the growth rate of Northern Cyprus, ahead of refugees’ return in the territory.
Elsewhere, the newspaper quotes that the president of the sub-Committee of the Audit Committee, Georgos Georgiou, is to meet the Governor of the Central Bank, Christodoulos Christodoulou, to discuss the issue of currency export between 1999-2000.
The newspaper “Xaravgi” highlights that the Social Security Fund Analogist is to visit Cyprus on December 2, while by the end of the year he will have examined the reformation of the pension system, as formed after the tax reform and the decisions over countervailing measures. The article also quotes that the analogical trial balance is secured until 2020, while no other increases in insurance contribution are to take place.
The “Economy’ inset of newspaper “Phileleftheros” under the title “Unfavourable deposits” refers to the issue of fixed deposits. According to the report, the rate of inflation, the interest cuts and the new taxation make fixed deposits unfavourable for all those who seek for a return on their savings - unlike last year when returns were certainly higher and more attractive for depositors. The newspaper also mentions that the Cypriot citizens turn to deposits since there are no other alternatives.
The “Economy” inset of newspaper “Simerini” under the title “Compromise for loans” refers to investment loans and points out that the Ministry of Finance, the Mps and representatives from the commercial banks association are in talks over a compromising formula, avoiding though to adopt the legislative regulation, as previously discussed.
The “Economic” inset of newspaper “Alithia’ deals with the political developments and the peace plan in relation to the development of Cyprus economy. “Provided that the imminent solution will bring about political security in Cyprus, I strongly believe that the growth rate and the external investments will increase”, said the Minister of Finance, Takis Klerides. Mr. Klerides also stressed that a good solution will improve the growth rate of Northern Cyprus, ahead of refugees’ return in the territory.
Elsewhere, the newspaper quotes that the president of the sub-Committee of the Audit Committee, Georgos Georgiou, is to meet the Governor of the Central Bank, Christodoulos Christodoulou, to discuss the issue of currency export between 1999-2000.
The newspaper “Xaravgi” highlights that the Social Security Fund Analogist is to visit Cyprus on December 2, while by the end of the year he will have examined the reformation of the pension system, as formed after the tax reform and the decisions over countervailing measures. The article also quotes that the analogical trial balance is secured until 2020, while no other increases in insurance contribution are to take place.
3287.99
1275.09
