08/04/2003 12:45
According to StockWatch sources, the Finance Ministry is expected to announce the new estimates on the performance of the Cyprus economy by the end of the current month, which will also include the negative impacts from the ongoing war in Iraq.
Manager of the Economic Study and EU of the Finance Ministry, Andreas Charalambous, told “SW” that the Ministry is in constant contact with the European Commission, which is already informed on the revised estimates for 2003 (by the submission of fiscal notification), stressing that these are only preliminary, possibly to be followed by further estimates after the end of the war.
Mr. Charalambous said that on the meeting of the Advisory Economic Committee to be held on Wednesday, the Finance Minister Marcos Kyprianou will refer to preliminary indications (not provisions) and revealed that the Ministry’s departments are requested to collect all the relevant data on Cyprus economic indices by April 10, avoiding however to proceed to estimates based on the existing data.
Mr. Charalambous clarified that the European Commission observes the Cyprus economy closely and pointed out that any possible deviations from the Maastricht criteria should not raise concerns.
It is noted that the meeting will be attended by the Ministers and General Managers of the Finance, Commerce and Labour Ministers, the Central Bank Governor, the General Manager of the Planning Office and the trade unions.
Manager of the Economic Study and EU of the Finance Ministry, Andreas Charalambous, told “SW” that the Ministry is in constant contact with the European Commission, which is already informed on the revised estimates for 2003 (by the submission of fiscal notification), stressing that these are only preliminary, possibly to be followed by further estimates after the end of the war.
Mr. Charalambous said that on the meeting of the Advisory Economic Committee to be held on Wednesday, the Finance Minister Marcos Kyprianou will refer to preliminary indications (not provisions) and revealed that the Ministry’s departments are requested to collect all the relevant data on Cyprus economic indices by April 10, avoiding however to proceed to estimates based on the existing data.
Mr. Charalambous clarified that the European Commission observes the Cyprus economy closely and pointed out that any possible deviations from the Maastricht criteria should not raise concerns.
It is noted that the meeting will be attended by the Ministers and General Managers of the Finance, Commerce and Labour Ministers, the Central Bank Governor, the General Manager of the Planning Office and the trade unions.
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