13/10/2020 14:14
The Cabinet on Tuesday decided to end the Cyprus Investment Program, following a proposal by the Ministers of Interior and Finance.
Government Spokesman Kyriakos Koushos, speaking to the press after an extraordinary session of the Cabinet, said that the proposal by the two Ministers was based on timeless weaknesses and the abusive exploitation of the program. He said that the termination of the program is to be put into effect November 1, 2020.
Koushos added that the Government will consider its policy to encourage investment after the completion of the inquiry conducted by the Attorney General.
Asked by the press if there would be a new program, the Spokesman said that we should wait for the completion of the investigation by the AG.
Invited to comment on the new press reports by Al Jazeera on the program, the Spokesman said that he does not wish to make any further comment.
He also said that today the Council of Ministers did not discuss issues related to coronavirus.