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Finance Ministry prepares response to offset impact from Court ruling on crisis wage cuts, FinMin tells CNA
CNA - Gregoris Savva - CYPRUS/Nicosia 09/02/2020 12:38


Cyprus Finance Ministry is preparing response measures in case the Court of Appeals upholds a ruling by the Administrative Court that the wage and pensions cuts in the public sector during the 2013 financial crisis have violated the Constitution and should be reinstated, Finance Minister Constantinos Petrides has said.
 
In an interview with CNA, Petrides said the Finance Ministry is examining measures, including the amendment of the Constitution, as well as alternative fiscal measures, to offset the impact on public finances.
 
Furthermore, Petrides said his priorities are focusing on maintaining fiscal discipline and budget surpluses that would put Cyprus’ public firmly on a downward path, the reduction of the non-performing loans which he described as “a heavy legacy of the past” and structural reforms which would boost the economy’s competitiveness and sus

(CNA)

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