Government attempts to glorify the state of the economy

 

Statement of Georgos Loucaides, AKEL C.C. Spokesperson

AKEL C.C. Press Office, 8th April 2015, Nicosia

 

It took a long time but eventually the Minister of Finance has admitted what AKEL has been stressing for so long with concern. That is to say, that all the data on the Cyprus economy suggest that the country will continue to be in recessionary trend in 2015 too. The accumulation of the problems in the banking sector, cuts in developmental and social spending, the given situation in tourism and developments in Russia have had a negative impact on the economic prospects and are cause of concern for the future. Even more so when the Government instead of concentrating its efforts on these problems is trying through public relations manoeuvres to glorify the economy’s state of affairs.

Unfortunately the dogmatic insistence on implementing austerity policies and declarations serving communication expediencies does not allow Cyprus to exit from the recession. Instead, this insistence will continue to undermine the prospects for substantial growth in the economy and to improve the prosperity of society as a whole.