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Wednesday, July 24, 2024

Cypriot Economy Upgrade by S&P's. “The Government will continue with the same determination”

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    Αναβαθμιση Κυ&pi ριςοοαπo SΗκβ ρηησεετια οφασιστικτητα»

    Upgrading of the Cypriot Economy by Standard and Poor's – “The Government will continue with the same determination” declares the PtD – President Christodoulidis expresses satisfaction

    Standard and Poor's Rating House has upgraded the Cypriot Economy, from BBB to BBB+ while maintaining the outlook to positive.

    In a written statement, the President of the Republic, Mr. Nikos Christodoulidis, welcomes with particular satisfaction the new upgrade of our country's credit rating. “The 5th in a row since the assumption of the government of the country, this time by the international evaluation house Standard and Poor's, which confirms the positive outlook of the Cypriot economy”.

    As President Christodoulidis mentions, it is significant that S&P's predict one of the highest growth rates in the EU during the period 2024-2027. And this despite the serious challenges arising at the European and global level from the ongoing wars in Ukraine and the Middle East.

    The fact that the international House upgraded the credit rating of the Republic of Cyprus from BBB to BBB+ maintaining at the same time the outlook is positive, it proves the correctness of the Government's economic policy based on the tripartite: fiscal responsibility, financial stability strong> and continuous reforms, he underlines.

    Access to international markets and attracting foreign investment are, among others, necessary ingredients to maintain of the Cypriot economy on a development path, he emphasizes at the same time.

    “The Government will continue with the same determination to implement that economic policy which allows it to effectively support the vulnerable groups of the population, strengthening, at the same time both the middle class and businesses” he concludes.

    Source: cyprustimes.com

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