The EC released country- specific recommendations and gives strict orders to Cyprus
The European Commission has warned Cyprus to continue activities towards financial consolidation and address inefficiencies in the public sector, including healthcare, schooling and legislation. This extends to addressing the cases of corruption in addition to resuming efforts to renovate the economy and labour market and fortify its financial sector. The Cyprus government which should stick to the medium to long-term 2018 objective of retaining a fiscal surplus of 4% economic output, as much as last year and half as much it is forecasting in 2017; the EC stated in its individual recommendations for each EU jurisdiction on its this week.
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