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The economy of Cyprus has been significantly improving so far this year and on June 23, the President of Cyprus Nicos Anastasiades referred to the next steps of the Government`s reform program, sending a message of optimism with regard to the economy, the Cyprus News Agency reports.
The President mentioned, addressing the Annual Meeting of the Institute of Certified Public Accountants of Cyprus, that the next steps of the reform program include the simplification of the procedure for the licensing of new companies, a new law on faster licensing of strategic investments and a new regulatory and institutional framework for tourism.
Moreover, Mr. Anastasiades placed a strong emphasis on the business services sector, pointing out its strategic significance for the economy and said that the Government has recently made a decision to set up an ad hoc committee to evaluate the current legal framework as well as submit within six months proposals on how to improve and modernise the sector.
He also noted that according to Eurostat, Cyprus` growth rate was at 2.7% in the first quarter of 2016, which was one of the highest in the Eurozone.
“This course of recovery has allowed us to conclude the financial aid program, has contributed to reducing unemployment and helps us plan and promote a gradual and rational easing of tax burdens imposed in the previous years”, he commented.
Thus, the President emphasized that an endeavour to bring about reforms must be continuous.
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