Cyprus News Agency: News in English, 16-10-19

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From: The Cyprus News Agency at <http://www.cyna.org.cy>

CONTENTS

[01] Fiscal Council concerned over FinMin's over-optimistic growth

projections

[02] Eurostat: construction sector down by 0.9% in the Euro area

[01] Fiscal Council concerned over FinMin's over-optimistic growth projections

The Fiscal Council expressed concern over the Finance Ministry`s over-optimistic objections on which the budget and expenditure ceilings are based on, the Council Chairman Demetris Georgiades has said.

Speaking to a press conference for the presentation of the Council`s Autumn report, Georgiades also expressed concern over the government's tax reductions without implementing mitigating measures.

Georgiades pointed out that the European Commission is expressing concerns over the deterioration of Cyprus` structural deficit (the deficit without cyclical adjustments and one-off developments) projected to deteriorate from 0.

(CNA)

*The full text of the news item is available in the paid version of the CNA web service.

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[02] Eurostat: construction sector down by 0.9% in the Euro area

In August 2016 compared with July 2016, seasonally adjusted production in the construction sector decreased by 0.9% in the Euro area (EA19) and by 1.3% in the EU28, according to first estimates from Eurostat, the statistical office of the European Union.

In July 2016, production in construction grew by 1.5% in the Euro area and by 0.3% in the EU28. In August 2016 compared with August 2015, production in construction rose by 0.9% in the Euro area, while it fell by 0.5% in the EU28.

The decrease of 0.9% in production in construction in the Euro area in August 2016, compared with July 2016, is due to building construction falling by 1.0% and civil engineering by 0.7%. In the EU28, the decrease of 1.3% is due to civil engineering falling by 1.5% and building construction by 1.2%. Among Member States for which data are available, the largest decreases in producti ...

(CNA)

*The full text of the news item is available in the paid version of the CNA web service.

*CNA reserves the copyright to the news stories it files, which is granted to subscribers for specific use only.

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