Cyprus PIO: News Update in English, 01-05-30

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

Wednesday, 30 May 2001

CONTENTS

• [01] Cyprus submits EU Pre-Accession economic programme

[01] Cyprus submits EU Pre-Accession economic programme

This Programme was prepared by the Ministry of Finance, the Planning Bureau and the Central Bank in the framework of activating the mechanism of monetary control in 2001 for EU candidate states by the Directorate-General of the European Commission for Economic and Financial Affairs.

This mechanism includes the following:

1. Yearly update of the D-G for Economic and Financial Affairs by the candidate states with regard to their annual debt and deficit.

2. Preparation of Pre-accession Economic Programme as the preliminary step of the Programmes for Convergence/Stability.

The main aim of this Programme, as specified by the European Commission, is based on meeting the Copenhagen Financial Criteria.

In addition, these pre-accession programmes aim at the development of the analytical ability of the candidate states for their participation to the Economic and Monetary Union.

It is noted that this Programme pays particular attention to monetary policy whilst it is revised annually.

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

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