The Minister of Finance, Konstantinos Petridis, described the upgrade by the rating agency Moody's as extremely important, noting that “it demonstrates the right policies pursued, which, despite the uncertainty that exists due to the pandemic crisis, continue to strengthen the credibility of Cyprus.”
In a written statement, Mr. Petridis stressed that the government will continue to support economic activity, so that with the passage of the pandemic, it will return to the positive rhythms that existed before the pandemic, both in terms of growth and employment. unemployment) as well as public finances.
To achieve this goal, he added, the Government supports the Cypriot economy and society as a whole, in a targeted and flexible way and at the same time promoting the appropriate economic plans, which will allow the maximum possible utilization of the offered European programs and funds.
“The government will continue to work tirelessly, systematically and in cooperation with the parliamentary parties to achieve the aforementioned reforms, which will push the Republic of Cyprus to higher levels of upgrading its credibility,” concluded YPOIK.
Moody's upgrades Cyprus rating due to reduced risks in the country's banks
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