Οur fiscal policy is a responsible one, says President following IMF mission

President Nikos Christodoulides has defended the Government's fiscal policy saying that because of this responsible policy, the state were able to spend more than € 700 million to address issues faced by households due to high prices.

He also recalled that this year the Government is starting to repay a loan "because some followed irresponsible policies that led us to food banks."

President Christodoulides also said that on Wednesday, 2 April he is traveling to Texas and San Francisco in a mission to attract investments and expressed confidence that there will be results, because there is already interest.

The President was replying to questions, on the sidelines of a visit he paid Larnaca on 29 March and was invited to comment on IMF's statements following their consultation mission to Cyprus, from 17 to 28 March .

He said that the government has proved with its responsible economic policy that it takes all the facts into account and the warnings by the IMF on public sector spending.

Also read: IMF warns Cyprus against fiscal loosening amid persistent inflation

Commenting on a demonstration organised today by left-wing AKEL on the high cost of living and potential "green" levies, the President noted that everyone has the right to demonstrate and this right is respected. But he went on to say that "if some people believe that such demonstrations will earn them votes, the exact opposing is happening".

He said that 'they reinforce the discrediting of the political system with consequences for everyone".

President Christodoulides noted that what we need is sincerity, adding that the government has proven over the past two years that it approaches the issue of high prices with determination.

He also recalled that it is his government that managed to postponed the green tax and has been in contact with the EU Commission for a long time.

Invited to comment further on his investment mission to the US, the President noted that "the visit has been very well organised."

He said that there will be a large number of meetings with companies that have already shown interest in investing in Cyprus and the region. 

(Source: CNA)