In a press conference regarding the economy of Cyprus, the President of the Republic Mr. Nicos Anastasiades announced the promotion of projects
of €280 million in value, emphasizing that these projects are part of a series of actions taken by the government for the purpose of boosting the Cyprus economy. Tenders will be invited for projects of a total value of €200 million which will consist of environmental and infrastructure projects as well as projects of total value of €80 million, which will include upgrading of hospitals, development of new healthcare centres, upgrading and development of educational centres, projects in the tourism area, improvement of certain urban areas and upgrading of road systems. According to the President, the projects announced are of great social benefit and the government was able to source this investment without jeopardizing the process of improving public finances.
According to the President’s announcement, not only have we proven that the forecasts for a total collapse of the Cyprus economy were incorrect, but in the last 24 months we have managed to restore international confidence in our country, we have stabilised the banking system and are in the process of recovery and exit from the Memorandum of Understanding with the Troika.
The President also announced an investment for the second stage of the development of the University of Cyprus and the creation of new motives for boosting the real estate development and tourism industries.
The President concluded the announcement by stating that a very specific and robust plan is being followed and that the fact that the island has overcome its difficulties is not something which has happened by chance and that the measures announced are not the last of such measures to be announced.
