Stefanos Stefanou: Cyprus needs a new economic development model

The General Secretary of the Central Committee of AKEL, Stefanos Stefanou, has called on the state to do what is necessary to create “the strong prospects that our Cyprus needs.”

In the context of his opening speech at the 3rd AKEL Economic Forum entitled 'A Strong Economy for All: Sustainable-Socially Oriented,' Stefanou warned that the country needs a new development model that promotes the strengthening of new sectors while at the same time investing in the primary and secondary sectors.

Speaking from the podium of the Conference, he first underlined that AKEL is keeping the channels of communication open with the partners of the Cypriot economy as well as the political community.

AKEL has a complete and realistic proposal and at the centre of it is the people and their needs, he explained.

"The economy should not be considered in isolation from society," he then said and explained, "The relationship between the economy and society is not apparent only when the numbers of the economy are examined." On the contrary, according to the General Secretary of AKEL, a global perspective is needed.

During his speech, Stefanou cited the strategic axes of the OECD evaluating, in relation, key sectors of the Cypriot economy, regarding which he said that from a fiscal point of view and growth rates is at a satisfactory level. He warned, however, that caution is needed due to challenges from the geopolitical environment. He also emphasised the fact that the Cypriot economy is vulnerable as it depends on tourism and other sectors that are impacted by external factors.

According to the General Secretary of the party, we need to "make the necessary arrangements for the strong prospects that our Cyprus needs." The country, he continued, needs a new development model that promotes the strengthening of new sectors while at the same time invests in the primary and secondary sectors.

Stefanou also emphasised the need for the country to invest more in technology, research and innovation.

Continuing, he stated that we must "move decisively towards the digitisation of public services." Changes are needed, he said, in matters of bureaucracy.

Climate change and its management are also among the issues that the General Secretary considers the state should be concerned with, in a comprehensive speech, where he concluded by underlining the need for greater transparency as well as a solution to the Cyprus Problem.

(Source: InBusinessNews)