More problems for Saving at Home
The Saving at Home (Exoikonomisi Kat’ Oikon) subsidy platform that opened yesterday for the regions of Attica and the Southern Aegean faced fresh problems from the first hour of operation, with the president of the Technical Chamber of Greece (TEE), Giorgos Stasinos, warning that “legality issues may arise for those who are unable to enter the subsidy program due to the shortcomings of the system.” The subsidies are for citizens who want to make home improvements that will bolster energy efficiency. loans are still at very high levels, the International Monetary Fund said. An IMF mission visited Nicosia from March 19 to 30 for the second post-program monitoring discussions. At the end of the visit, the mission issued a statement pointing out that Cyprus’s economy has been robust since the IMF’s last visit and that its capacity to repay the Fund is seen as adequate. The statement said Cyprus’s economic growth has been supported by construction, tourism and professional services. The current rapid pace of economic expansion is forecast to continue at 4-4.25 percent during 2018-19. However, despite a sizable and sustained improvement in macroeconomic conditions, private sector indebtedness remains extremely high and continued weak payment discipline has kept NPLs at very high levels. The IMF said a decisive and durable reduction in NPLs requires amending the legal frameworks for insolvency and foreclosure. Cyprus also