Rating agencies refute government claims about a supposed “success story”
Statement by Haris Polycaropu, Head of the Economic Research Bureau of the C.C. of AKEL
AKEL C.C. Press Office, 28th November 2017, Nicosia
Even the rating agencies, which the government of N. Anastasiades constantly invokes to support it’s claim about a supposed “success story”, have a different opinion about the Cyprus economy’s course.
They continue to express serious concerns about the country’s model of development and course of the banking sector.
In a recent report released, Moody’s agency note that Cyprus faces challenges stemming from its one-dimensional model of development and the high levels of debt of the government, the banks and households.
We repeat that Cyprus needs a productive model that creates the conditions for sustainable growth and addresses income inequalities.
We need an economy that offers opportunities for everyone.
We need a government that has a vision for the majority of the people, not a government serving the privileged few.
These goals can be fulfilled only by the election of the next administration under Stavros Malas.
