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National Recovery and Resilience Plan auspicious and realistic

14/05/2021 09:03

Cyprus' National Recovery and Resilience Plan, the blueprint to absorb over €1 billion from the EU’s Recovery and Resilience Facility (RRF) is both auspicious and realistic and will serve as the enabler for the implementation of Cyprus’ new sustainable growth model, Minister of Finance Constantinos Petrides and Cyprus Economy and Competitiveness Council (ECOMPET) Chairman agreed on Thursday.

One day before the approval of the Plan by the Cabinet, Petrides met with the ECOMPET’s Chairman Takis Clerides in the presence of Andreas Assiotis, ECOMPET member and head of the steering committee for the Council’s long-term strategy for the island’s new economic model, and discussed Cyprus Recovery and Resilience Plan.

A press release issued by the FinMin, notes that the National Plan, which includes a cohesive set of reforms and investments aiming to modernise, strengthen and improve the economy’s resilience and the capacity for economic and social growth, placing special emphasis to the green transition and digital transformation, also incorporates and is in line with the guidelines of ECOMPET’s long-term strategy for a sustainable growth as well as with the horizontal and sectoral actions.

Both the Finance Minister and the ECOMPET’s Chairman agreed that the Recovery and Resilience Plan is auspicious and at the same time realistic and will enable the implementation of the economy’s new growth model, the Finance Ministry added.