“I would also like to point out the fact that, inevitably, the common monetary policy in the Eurozone often creates problems, as it does at the present moment”, said Mr. Makis Keravnos
“I would also like to point out the fact that, inevitably, the common monetary policy in the Eurozone, it often creates problems, as it does at the present time”, said the Minister of Finance.
He added that he personally raised this issue in the context of his participation in the Eurogroup meetings and that his concerns were well received by the other Finance Ministers.
At the same time, he said that the data from the spring forecasts of the Commission show that the economy of Cyprus is on the right track.
Mr. Keravnos added that his goal is to maintain this path, recognizing at the same time the multifaceted and complex challenges that are being faced. consumers, the Minister assured that “if and when it needs to support groups of the population, the Government will be ready to implement the appropriate measures”.
He also said that as Minister of Finance, respecting the independence of the Central Bank of Cyprus, he has made several recommendations to the banking institutions to re-evaluate their interest rate policy and has received criticism for this here and there.
“Our interventions have yielded results, since the banks have adopted some positive measures in terms of absorbing the increased costs from the increase in interest rates, as well as in terms of the formation of deposit rates”, he said.< /p>
Regarding the risks from geopolitical developments, Mr. Keravnos stated that the measures taken by the Government are multidimensional and in various sectors, such as in the tourism and energy sectors, while the Ministry of Finance, through the implementation of a balanced economic policy has kept the economy resilient, intervening where and when needed, achieving positive growth rates and gradual taming of inflation.
“Challenges are still ahead and create significant uncertainty, so the The Ministry of Finance continues to closely monitor developments and implement a precautionary economic policy”, the Minister also noted.
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