The Ministry of Finance is examining and costing scenarios for new measures to support society and especially vulnerable groups to deal with inflation and inflation, said the responsible Minister, Makis Keraynos, stressing that the scenarios were made independently of last Friday's upgrade of the Cypriot credit rating.
“The upgrade certainly strengthens and encourages such efforts but in any case the Ministry of Finance, and without this upgrade, feels the sensitivities and we would respond and will respond to the problems that afflict our society,” the Minister of Finance said in response to questions from journalists at context of his visit to the Cyprus Institute of Neurology and Genetics.
He reminded that the Ministry of Finance was already planning support measures for society to deal with the accuracy and inflation in general, adding that regardless of the upgrade and after the preparation of the budget, the Ministry continued the thoughts and work on this matter.
When asked when the notification of the measures should be expected, Mr. Keravnos replied “within the next period”.
“You understand that various scenarios are made, they are costed, they are used and above all what we are looking at is not only to announce measures, but to announce measures which will especially help the vulnerable groups and which can be implemented immediately”, he stressed.
Answering a question, Mr. Keravnos welcomed the double upgrade to the investment category by Moody's rating agency, which was expected for 12 years.
“And I think that after seven months in the government of the place the government has been evaluated, along with what has been done before, and it has convinced with its budget that we remain on a development path and it handles the issues with a lot of care, the issues of the economy and the fiscal balance and the obligations we have towards the European institutions”, he said.
According to the Minister of Finance, the upgrade is important because this will help the Government in the further course of necessary financing to be able to secure loans on better terms, which will help the economy and society in general and also is an important message to foreign investors and the investment companies located in our country that there is an economy here in Cyprus that can absorb these investments and utilize them and develop them.
Along with his statements together with the executive medical director of the Institute Neurology and Genetics Leonidas Phylachtos, Mr. Keravnos expressed his support for organizations such as the Institute.
“The Ministry of Finance and the Government will always be next to such organizations, Institutes and infrastructures that are particularly developmental and with a huge contribution to the society of our country”, he noted.
As he said, the Institute offers important services, is one of the true centers of excellence of our country with a triple character, contribution to health, contribution to education and research.
Mr. Keravnos noted that the visit took place in the context of the completion of the budget and monitoring certain development projects, but also the visit of the President of the European Investment Bank, which finances the development of the Institute's building infrastructure.
In his own statements, Mr. Filachtos thanked the Minister of Finance for the visit.
As he said, he informed Mr. Keravnos about all the activities that include services to patients, competitive research programs for the benefit of patients and presented the postgraduate school of the Institute where postgraduate students study at master's and doctoral level .