The Government’s responsible fiscal policy and the achievements of the Cypriot economy—such as Cyprus’s top ranking in the EU for its budget surplus— were highlighted tonight by the President of the Republic, Mr. Nikos Christodoulides.
In remarks to reporters as he arrived at an event organized by the Olympiada Neapolis Association in Nicosia, and in response to a reporter’s remark that Cyprus ranked first in the EU for its budget surplus, but political parties are criticizing the fact that this is not reflected in citizens’ pockets, the President of the Republic said: “I wish I were being criticized by the parties for our country’s top ranking in the budget surplus.”
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The bill to reduce the excise tax on fuel has been passed
“A budget surplus, which is the result of our responsible fiscal policy—a budget surplus that allows us, for the third consecutive year, to have a balanced budget, a fiscal surplus that allows us to move forward with a bold tax reform after 23 years, boosting households’ disposable income and helping Cypriot businesses, a budget surplus that allows us to proceed, for the first time since 1980, with a pension reform specifically designed to increase pensions, particularly for those with low pensions, a budget surplus that allowed us to raise the minimum wage twice, a budget surplus that allowed us to restore the ATA to 100% when some had reduced it to very low rates, a budget surplus that allows us to invest in health care, education, housing, and the welfare state. “So, they can continue to accuse us,” the President said pointedly.
At the same time, the President of the Republic rebuked his critics, noting that because they themselves are a “responsible government” and because they care about the country’s future, they are not concerned with “the next elections”; they care about “future generations,” because, as he explained, they saw “where the country ended up when some people acted irresponsibly. To ruin, to debt haircuts, to social food pantries.”
We, he added, “because we are responsible and because we see both regional and international developments, we must—because we care about the country— we care about our country’s future, and we care about the younger generation, we must be responsible in fiscal policy. We are restoring growth to the country and, at the same time, ensuring security in all sectors.”
When asked if there would be additional measures, the President of the Republic said, “If the need arises, we will consider further measures. We are working on measures every day. But since we are entering an election campaign, and some have already entered an election campaign, we will not be swept up—just as we did not during the parliamentary elections—in a flurry of handouts or make statements merely to please audiences or win favor. We are responsible here, and we prove it through our actions—I mentioned just a few examples earlier: tax reform and pension reform after so many years. Why can we do this? Because we have a responsible fiscal policy. The ATA, the minimum wage, all the investments we’re making in our education system, in hospitals, in housing—all that money going into the welfare state—spending on the welfare state is increasing by 6% or more almost every year. All of this is precisely because of our responsible fiscal policy, but also because we care about the country’s future and have a duty to act responsibly to provide “security” to all citizens.”
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