07/07/2003 16:49
Chairman of the Council of Experts, Alexis Galanos, reiterated on Monday that there is a need to take “tough decisions” to confront the problems of the Cyprus economy. Responding on the question whether the Council’s proposals include the freezing of the state payroll, Mr. Galanos said that the experienced members of the Council have proceeded to a number of proposals, which may be painful, but must be adopted.
Speaking after the meeting between the Council of Experts and the Executive Committee of the Cyprus Chamber of Commerce and Industry, Mr. Galanos emphasized the need to increase revenues or reduce expenditure or even both. “We should not always turn to state or foreign borrowing”, he noted.
Mr. Galanos made no mention of the Council’s proposal on the Cyprus economy, which were submitted to President Papadopoulos and clarified that the final decisions depend on the executive power and the parliament.
The CoE Chairman was against the imposition of new taxes, as this should be “a last-minute decision” and stressed that taxation is not always efficient.
CCCI Chairman is optimistic
CCCI Chairman, Vasilis Rologis said that the Council of Experts and the Chamber of Commerce are optimistic for the future of the Cyprus economy and expressed CCCI’s confidence on the role of the Council.
“All countries take the proper measures for their economy. We anticipate a new tax reform and we hope that this will take no longer than three years. We would like to take the proper measures for the Cyprus economy”, Mr. Rologis concluded.
Speaking after the meeting between the Council of Experts and the Executive Committee of the Cyprus Chamber of Commerce and Industry, Mr. Galanos emphasized the need to increase revenues or reduce expenditure or even both. “We should not always turn to state or foreign borrowing”, he noted.
Mr. Galanos made no mention of the Council’s proposal on the Cyprus economy, which were submitted to President Papadopoulos and clarified that the final decisions depend on the executive power and the parliament.
The CoE Chairman was against the imposition of new taxes, as this should be “a last-minute decision” and stressed that taxation is not always efficient.
CCCI Chairman is optimistic
CCCI Chairman, Vasilis Rologis said that the Council of Experts and the Chamber of Commerce are optimistic for the future of the Cyprus economy and expressed CCCI’s confidence on the role of the Council.
“All countries take the proper measures for their economy. We anticipate a new tax reform and we hope that this will take no longer than three years. We would like to take the proper measures for the Cyprus economy”, Mr. Rologis concluded.
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