Cyprus PIO: News Update in English, 01-03-07

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From: The Republic of Cyprus Press and Information Office Server at <http://www.pio.gov.cy/>

Wednesday, 7 March 2001

CONTENTS

• [01] Government's fiscal program is successful
• [02] General Assembly of the Hellenic-Canadian Solidarity Committee adopts resolution on Cyprus
• [03] Cyprus signs road transport agreement with Belarus

[01] Government's fiscal program is successful

Speaking at a press conference yesterday, Mr Klerides said that the primary goal of the government's fiscal program for the period 1999 - 2002 is to reduce public deficit to two per cent of the GDP as of the year 2002.

The basic objectives of the fiscal program have been met, Mr Klerides said, adding that the public deficit dropped from 5.5 percent of the GDP in 1998 to 4.1 percent in 1999 and to 2.7 percent in 2000.

As a result of this achievement, Cyprus meets the Maastricht criteria set out by the European Union on economic indicators, something which undoubtedly lays sound foundations for the country's accession course for EU membership, he said.

Mr Klerides stressed that the decrease in the public deficit in particular, creates the necessary conditions for the reduction of interest rates, consolidates the trust of international markets in the local economy and provides a solid backing for the accession process.

The Finance Minister said that public expenditure was reduced from 37 percent of the GDP in 1998 to 35.75 per cent in 2000, while public revenue increased from 31.5 per cent of the GDP in 1998 to 33 percent in 2000. In addition, the public debt dropped to 59.8 per cent of the gross domestic product (GDP), which also meets the Maastricht criteria.

In conclusion, Mr Klerides said that the successful implementation of the fiscal program should not cause anybody to be complacent. On the contrary, the overall successful economic course constitutes a new beginning for the adoption of even more ambitious goals. The Ministry of Finance is working on a revised fiscal program with a view to balance the public finances by the year 2004, he said.

[02] General Assembly of the Hellenic-Canadian Solidarity Committee adopts resolution on Cyprus

The resolution calls for the immediate withdrawal of 36,000 Turkish occupation forces and 100,000 illegal Turkish settlers from the occupied area of Cyprus and the adoption of President Clerides' proposal for the demilitarisation of the island. It also demands that the UN takes effective measures for the implementation of all Security Council resolutions on Cyprus.

It urges the Canadian government to strongly support the G8 initiative, now endorsed by the UN Security Council, calling on both sides to resume negotiations without preconditions and on the basis of UN Security Council resolutions.

It also calls for the support of Cyprus' entry to the European Union, as this would benefit all Cypriots and serve as a catalyst towards the reunification of the island.

Finally, it urges "that efforts be made for the immediate restoration of human rights for all Cypriots, the safe return of the displaced to their homes, the full accounting of the fate of all missing persons since 1974; the protection of the human rights of the enclaved populations and the respect and preservation of the cultural heritage in the occupied areas of Cyprus".

[03] Cyprus signs road transport agreement with Belarus

The agreement provides for the transport of passengers and goods within the boundaries of the two countries and the setting up of a Joint Committee for the implementation of the agreement.

Speaking during the signing of the agreement, Mr Neophytou stressed the importance Cyprus attaches to the international road transport sector, which contributes to the strengthening of commercial and economic relations with other countries.

For his part, Mr Lukashov thanked the Cyprus Government for its hospitality and referred to the prospects of expanding the cooperation between Cyprus and Belarus.

From the Republic of Cyprus Press and Information Office (PIO) Server at http://www.pio.gov.cy/

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