Title: Cyprus Aligns with Eurozone’s Fiscal Policy Vision for 2025
In a recent statement, Cyprus’ Finance Minister Makis Keravnos has expressed his contentment with the eurozone’s fiscal policy direction for the year 2025, highlighting that the country’s current conservative fiscal strategy is already in sync with the proposed guidelines.
Keravnos emphasized that the eurozone’s fiscal policy plan aligns perfectly with Cyprus’ ongoing efforts, which include maintaining a cautious fiscal stance and transitioning towards a green and digital economy. The minister’s remarks underscore Cyprus’ proactive measures in adhering to prudent financial management and its commitment to sustainable and technological advancements.
The finance minister also commented on the initiative to unify capital markets within the European Union, a move Cyprus supports wholeheartedly. Keravnos believes that this unification will provide investors with increased security and guarantees, fostering an environment conducive to releasing funds for development both in the EU and Cyprus. He pointed out that this would be complemented by coordinated supervision, leveraging the existing supervisory structures of each member state to ensure a robust framework.
Looking at the Recovery and Resilience Facility, which was a topic of discussion at the Economic and Financial Affairs Council of the EU on March 12, Keravnos remarked that Cyprus is making good progress. While acknowledging that there are challenges along the way—a common scenario for many countries—he noted that Cyprus is actively addressing these issues. The country is currently preparing submissions for the fourth through seventh tranches of funding, indicating a forward momentum in its recovery efforts.
The alignment of Cyprus’ fiscal policies with the eurozone’s plans for 2025 positions the country favorably within the EU’s financial landscape. It reflects a strategic approach to economic governance that is likely to bolster investor confidence and contribute to the nation’s resilience and growth in the coming years.
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