President Nikos Christodoulides has defended his government’s economic policies and dismissed opposition criticism of public sector hiring as he prepares for a trip to the United States aimed at boosting investment.
Speaking to reporters in Voroklini on Saturday, Christodoulides outlined his upcoming visit to New York, Texas, and San Francisco, starting on Wednesday.
“This visit has been very well organised. There will be a large number of meetings with companies that have already shown interest in investing in the Republic of Cyprus, approaching it as their entry point into the region,” he said, adding that he would be accompanied by aides and anticipated “tangible results”. He described the existing investment interest as a “vote of confidence” in the Cypriot economy.
Responding to a recent warning from the International Monetary Fund (IMF) regarding the cost of the state payroll and opposition accusations of “uncontrolled hiring”, Christodoulides asserted that his government was pursuing responsible economic policies that considered all factors. Asked about the possibility of rapid economic deterioration, he stated, “The government is demonstrating through the responsible economic policy it is following that it is precisely taking all these data into account, because you don’t play with the economy.“
Referring to a protest by the left-wing AKEL party taking place concurrently, the president affirmed his respect for the right to demonstrate. However, he noted that the government had already spent over 700 million euros supporting households and businesses against rising costs.
Christodoulides also reminded that the government had postponed the implementation of green taxation and was this year commencing repayments on loans “that originated from irresponsible policies of the past, which led us to social grocery stores,” he stated.
In closing, he cautioned against the exploitation of demonstrations for political or electoral gain, arguing that it erodes trust in the political system. “You don’t play with the economy; seriousness is needed. And we have demonstrated in these two years the seriousness with which we approach the issue,” he concluded. He reiterated that his government had postponed the green tax deadline and was now working with the relevant committee. He stressed that loan repayments linked to past “irresponsible policies” were beginning this year, regardless of recent protests.
