19/09/2002 09:08
Three major issues dominate today’s financial press. First, the state’s budget for 2003 approved by the cabinet yesterday and second two exclusive news brought out by Stockwatch. The statements of the former Governor of the Central Bank, Afxentis Afxentiou and his view about currency exports and liquidations by foreign investors during 1999-2000 on the one hand, and the statements of Andreas Aloneftis and his appeal to the Supreme Court in order to reverse SEC’s decision about the fine of CYP25,000 on the other.
The main issue of “Economy” inset of newspaper “Phileleftheros” is under the title “Harmonized budget” while the subtitle is “significant income reductions due to direct taxation and defense”. The report also stresses the statement of Takis Klerides, Minister of Finance, after Cabinet’s convention according to which “the size of expenditure and the anticipated income will soon be harmonized with the European Union requirements. As he stated “Our main aim is to decrease fiscal deficit and public debt”.
The report points out all economy sizes and government budget indexes for 2003, according to which next year net government expenditure will increase by CYP339 million or 15.4% reaching CYP2,544,1 million. Moreover, in relation to the anticipated income, loan repayments and expenditure will increase.
Elsewhere the inset refers to the fine of CYP25,000 imposed to former president of MFS, Andreas Aloneftis, as well as to his statements concerning his appeal to the Supreme Court.
The “Economy-Stock Exchange” inset of newspaper “Simerini” focuses on the budget. Under the title “Tough year for economy”, the inset quotes Takis Klerides’ view about the problems in economy due to September 11 incident in the US. Mr. Klerides had stated that “Despite this fact, Cyprus’ growth rate is even higher than EU and USA. As a result, financial indexes have improved”
Besides - according to the subtitles - the Minister of Finance believes that government budget meets state’s requirements for a convergence with Europe.
Elsewhere, the inset highlights the exclusive statements to Stockwatch of the former Governor of the Central Bank, Afxentis Afxentiou, who rejects MPs’ accusations about the aforementioned issue.
The inset “Economic” of newspaper “Alithia” refers to the government budget. Under the title “Deficit for 2003, but commitment to EU for obliteration” the reports focuses on the plethora of numbers and indexes related to budgets, as well as the Ministry of Finance estimates about the prospects of economy in the face of index harmonization demanded by the EU.
The newspaper also mentions that the budget of 2003 will show a deficit by CYP679.3m, while overall expenditure and payments will reach CYP3,068.7 billion and overall income CYP2,389.4 million. Net expenditure and payments will reach CYP2,544.1 billion and net income CYP1,853.8 billion.
Elsewhere, the newspaper refers to the conventions of the Ministry of Commerce in order to examine the implications of a possible American attack in Iraq.
The main issue of “Economy” inset of newspaper “Phileleftheros” is under the title “Harmonized budget” while the subtitle is “significant income reductions due to direct taxation and defense”. The report also stresses the statement of Takis Klerides, Minister of Finance, after Cabinet’s convention according to which “the size of expenditure and the anticipated income will soon be harmonized with the European Union requirements. As he stated “Our main aim is to decrease fiscal deficit and public debt”.
The report points out all economy sizes and government budget indexes for 2003, according to which next year net government expenditure will increase by CYP339 million or 15.4% reaching CYP2,544,1 million. Moreover, in relation to the anticipated income, loan repayments and expenditure will increase.
Elsewhere the inset refers to the fine of CYP25,000 imposed to former president of MFS, Andreas Aloneftis, as well as to his statements concerning his appeal to the Supreme Court.
The “Economy-Stock Exchange” inset of newspaper “Simerini” focuses on the budget. Under the title “Tough year for economy”, the inset quotes Takis Klerides’ view about the problems in economy due to September 11 incident in the US. Mr. Klerides had stated that “Despite this fact, Cyprus’ growth rate is even higher than EU and USA. As a result, financial indexes have improved”
Besides - according to the subtitles - the Minister of Finance believes that government budget meets state’s requirements for a convergence with Europe.
Elsewhere, the inset highlights the exclusive statements to Stockwatch of the former Governor of the Central Bank, Afxentis Afxentiou, who rejects MPs’ accusations about the aforementioned issue.
The inset “Economic” of newspaper “Alithia” refers to the government budget. Under the title “Deficit for 2003, but commitment to EU for obliteration” the reports focuses on the plethora of numbers and indexes related to budgets, as well as the Ministry of Finance estimates about the prospects of economy in the face of index harmonization demanded by the EU.
The newspaper also mentions that the budget of 2003 will show a deficit by CYP679.3m, while overall expenditure and payments will reach CYP3,068.7 billion and overall income CYP2,389.4 million. Net expenditure and payments will reach CYP2,544.1 billion and net income CYP1,853.8 billion.
Elsewhere, the newspaper refers to the conventions of the Ministry of Commerce in order to examine the implications of a possible American attack in Iraq.
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