Government’s economic forecasts refuted
Statement by Stefanos Stefanou, member of the Political Bureau of AKEL
AKEL C.C. Press Office, 28th January 2015, Nicosia
The Economic Research Centre of the University of Cyprus in its report on our country’s economic perspectives in 2015 forecasts that there will be a recession of -0.4% as opposed to the government’s forecast for a meager growth of +0.4%.
The forecasts of the University of my will remain fixed in recession. Recession means unemployment and further the deterioration of the living standards of the Cypriot people who are suffering as a result of the anti-social austerity policy implemented by the Anastasiades government and the DISY party.
Instead of the government investing in development and growth, it has planned and is implementing budgets with even more cuts and restrictions than were included in the agreements it had concluded with the Troika, a fact which undermines the prospects for the Cyprus economy’s growth. It is time the government gets the message from both the situation in Cyprus and in Europe and changes course. Cyprus needs growth and not austerity.
