Georgiades: the biggest risk to economic growth is Cyprus’ bad habits.
The greatest risk to the viable growth rate of the Cypriot economy is the islands own bad habits; Finance Minister Harris Georgiades stated this week. His thoughts follow Cyprus statistical service’s (Cystat) estimated marginal economic growth rate (a mere 2.9%); both for the final quarter of last year and the entire upcoming financial year.
“The Cypriot economy is recovering, we are making up the ground lost, and we must remain unwaveringly focused on the effort. Of course it is up to us to let things run their course, and to manage this second chance we have secured responsibly and credibly to avoid repeating previous mistakes. If we do this, I am convinced the recovery will continue.” The Finance Minister told reporters at a news conference.