The assessment that Europe will sink into economic recession and Cyprus will maintain positive growth rates in 2023, as long as it has the right helmsman, DISY President and candidate for the Presidency of the Republic, Averof Neophytou, said on Tuesday evening.
In remarks on the sidelines of an event on "The Cyprus Economy - Challenges and Opportunities", held at the Radisson Blu Hotel in Larnaca, Neophytou said that "tonight we spoke at the forum with Finance Minister Constantinos Petrides, a close associate who kept the helm of the economy at a very critical juncture for the Cypriot economy. Like the previous administration under his predecessor, Cyprus faced a succession of fiscal crisis, banking crisis, pandemic, the war in Ukraine, galloping inflation and the energy crisis."
He added that it is through the right policies of the government and Petridis that today Cyprus has twice the economic growth rate of the eurozone average. The global and European economies are going through perhaps the worst winter since the Second World War, he said, noting that "England is already in recession and in 2023 not even Germany will escape recession."
We, Neophytou continued, "have a strong economy thanks to the right economic policies and the sacrifices of our people and it is a pity to risk this stability and this growth path to any setbacks. It is not enough to have successful entrepreneurs, it is not enough to have strong economic activity in the private sector," he said, noting that "if the management in public finances and the economy is not right, then the economic ship will sink."
He also noted that "an economic misalignment in England, one of the strongest global economies, led to the impoverishment of the entire English people." But, he said, "in England in 44 days if the Prime Minister does not do well they change him, in Cyprus whoever becomes President will be President for five whole years and if we have an economy left."
Averof Neophytou also said that "we know our strengths, we are confident. Europe will sink into an economic recession and Cyprus will maintain positive growth rates even in 2023, with one condition, with the right helmsman."
In response to a question, Neophytou said that "Cyprus has a disadvantage, it is like a pebble in the ocean, it can disappear, you can suffer damage from a misalignment that will take ten years to repair," he said, adding that "we experienced it in 2013."
In response to a question, Neophytou said that "Cyprus has a disadvantage, it is like a pebble in the ocean, it can disappear, you can suffer damage from a misalignment that will take ten years to repair," he said. However, "the Cypriot economy is small and flexible and with the right economic policies you can come out of crises as a winner and we proved it in practice," Averof Neophytou concluded.
Moreover, the Minister of Finance, Constantinos Petrides, in his own statements at the same event, said that economic management plays a decisive role in everyone's income "and in whether and what job we will have the next day and it plays a very important role in how we will manage it the next day" and that, according to him, "there is no question who is the right and credible choice for the next day of Cyprus", noting that it is Averof Neophytou.
Source: CNA
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