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Press: Unafavourable forecasts for deficit

04/03/2010 07:45
The major issues in today’s financial press are the Finance Ministry’s forecasts for the fiscal deficit without the taking of structural measures included in the Stability Program, CYSTAT’s data on the registered unemployed in late February 2010 and the package of austerity measures in Greece.

The newspaper “Phileleftheros” refers to the Finance Ministry’s forecasts for the fiscal deficit without taking the structural measures included in the Stability Program. According to the report, the Ministry anticipates that if no measures are taken, the deficit in 2010 will reach 7%, it will increase to 9% in 2011, 9.5% in 2012 and 10% in 2013. The public debt will increase from 60.9% in 2010 to 67.7% in 2011.

The “Economy” inset of the newspaper refers to CYSTAT’s data on the registered unemployed in February 2010.

Other headlines:

- Dispute on economy culminates

- Bounced cheques of €1.13 million in Jan-Feb

- Purchase of property of €7m by Woolworth

- More expensive deposits by 3.41% - Loans fall slowly

The “Economy” inset of newspaper “Politis” refers to CYSTAT’s data on the registered unemployed in February 2010. According to the figures, their number reached 23,949 persons from 23,645 in late January, while compared to February 2009, they recorded an increase of 46.2% or 7,566 persons.

“Politis” also refers to the Land Registry data on the property sales in February 2010.

Other headlines:

- Package of measures ready

- More expensive fuel – Increases of more than 3 cents

- Cosmos & MSJ ally – For distribution of products

- Losses of 1.09% in CSE

The “Economy” inset of newspaper “Simerini” refers to the package of austerity measures announced in Greece. According to the report, the government decided to cut the 13th and 14th salary of the public employees and the DEKO employees by 30%, to cut the benefits and to increase the VAT.

The newspaper also reports that PASYDY will not allow ether the freezing of the salaries or the abolition of job posts to help the island’s economy.

Other headlines:

- Package of measures in Cyprus under preparation

- SEK urges govt. to eliminate expensiveness

- No jobs for 24,000 people

- Woolworth bought property in Strovolos

The “Economy” inset of newspaper “Haravgi” refers to the answers given by the Government Spokesman, Stephanos Stephanou to DISY criticisms on the measures for the support of the economy.

“Haravgi” also highlights that according to Hermes Airports, the passengers’ traffic in the first two months of the year recorded a significant increase of 2.9%.

Other headlines:

- Labour dispute in CTO towards settlement – Compromising solution

- Signs of recovery in property market

- Small losses in the CSE

- Unemployment up 1.3%

The “Economy” inset of newspaper “Alithia” refers to the dispute between the government and the opposition for economy. According to the report, the opposition blamed the government for the credibility deficit, while the government criticized the opposition for panicking the citizens.

Elsewhere the newspaper reports that SEK urged the government to intensify its efforts for the development of the public transportation.

Other headlines:

- Urban planning amnesty forgotten – Andreas Kyprianou

- EU approved item for Cultural Palace

- Unemployed doubled - CYSTAT

- Increase in deeds of ale – Properties