Credibility of state and banks restored
The government is committed to addressing the problems society is facing, President Nicos Anastasiades said on Friday, adding that under his administration, the credibility of the banks and the state itself has been restored.
Addressing a meeting with local authorities in Limassol, where he announced new projects worth EUR 147 mln, the President referred to the difficulties faced when he took over, pointing out that the decisions taken by the Eurogroup and the country’s partners did not allow him to announce any projects which his government would not be able to implement.
Anastasiades said that during the 26 months of his governance, there has been consistent implementation of the credit conditions laid out by Cyprus’ international lenders, which resulted in achieving what the most optimistic circles did not even expect.
He added that 22 consecutive downgrades were followed by eight upgrades so far and positive reviews in all seven assessments by international lenders. Furthermore, he added, “we have managed to return to the markets, in the hope for more favourable terms next time we return to the markets in the future.”
However, the President said, there are still serious problems among the vulnerable groups and the unemployed, pointing out that his government is making continuous efforts to attract foreign investment that will lead to growth and development.