AKEL on President’s declarations on the economy
Statement by Georgos Loucaides, AKEL C.C. Spokesperson
AKEL C.C. Press Office, 3rd April 2015, Nicosia
The lifting of the restrictions on banking transactions abroad represents a positive step for the Cyprus economy. We believe that this decision was made after a careful and thorough study of all given factors. The announcement of an additional € 80 million for development projects is a positive development, but not enough. There are dozens of ready projects that were suspended in the past because of the government’s efforts to create a fiscal “pillow”. AKEL recalls that the Government had proceeded unilaterally to impose additional cuts of more than € 500 million for 2014 and 2015 in development and social funds and benefits to those demanded by the Troika. Today the government has opted to implement part of these development projects, presenting them as new declarations.
In addition to the above new elements, the President of the Republic reiterated previous commitments made by the Government and which so far have not been implemented. We hope that the Government’s declarations will not yet again remain wishful thinking, as well as announcements serving communication games and that it will fulfill into practice its commitments.
Unfortunately, the past has shown that despite similar pronouncements, the economy is stuck in recession and society continues to suffer from the effects of the government’s austerity policies.
