News Economy Georgiades:Troika agreement constitutes a major step forward

Georgiades:Troika agreement constitutes a major step forward

Finance Minister Harris Georgiades stated that a significant and genuine step forward has been taken in relation to a reforming program that would stabilize Cypriot economy, commenting yesterday's EU, ECB and IMF joint declaration regarding the meeting of an agreement in terms of the evaluation of Cyprus’ reforming program.
In his statements made on the sidelines of the 5th Nicosia Economic Congress, Georgiades said that this is an important development, while thanking the House of Representatives for its latest decisions that actually empower the implementation of a reforming program that would promote the consolidation of Cyprus’ economy.”
Georgiades stated: "we had tangible positive samples of progress to put before the representatives of the International Monetary Fund and the European Commission who have recently visited our country."
"This progress has been recorded and will allow the rendering of a positive sign from the Eurogroup. This, in turn, will have a further positive impact on the implementation of ECB's quantitative easing program that could guarantee the recovery prospects of our economy” he added.
When asked about his yesterday’s statements on the establishment of a new state telecommunication company, which would stand alongside Cyta, Georgiades declared that the privatization of a public institution presupposes the previous funding and establishment of the company."
He also said that the privatization process as well as the discussion with the employees are in full swing. However, he declined to comment further on the form of the advancing privatizations.
In any case, he continued, the main goal is the attraction of foreign investments in our country especially regarding the crucial economic sectors such as telecommunications and ports and the improvement of our competitiveness and efficiency through modern management’s technics. 
Source: Sigmalive