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The Government Spokesman, Mr. Konstantinos Letibiotis, gave a media briefing today at the Presidential Palace.
In his opening statement to the media, as part of his media briefing, the Spokesman said: "The Republic of Cyprus' Amalthea initiative, the maritime corridor initiative to provide humanitarian assistance to the civilian population in Gaza, continues as normal.
On the part of the Republic of Cyprus, all procedures with the relevant agencies and partners involved, concerning the Project, are continuing through a solid, multinational coordination, made possible by the leadership we have assumed in the region. These procedures include transport, screening, inspection, loading and transfer to either temporary secure storage or to an appropriate floating storage facility off the Strip.
As we have reported and as has been demonstrated in practice, the operational operation of the temporary floating jetty, which was constructed by the United States, has created the right conditions for the arrival and receipt of increased volumes of humanitarian aid in Gaza.
The expanding volume of the flow of transport and receipt of humanitarian aid for distribution to the civilian population is reflected in the relevant data and figures.
Based on these figures, it appears that approximately 14,000 pallets of humanitarian aid have arrived in Cyprus and 4.134 have already been dispatched after following all the procedures foreseen under the secure screening and departure mechanism established under the Amalthea Plan.
Based also on these figures, over 2,000 pallets have already been transported and unloaded on the Gaza coast, while around 2,000 have been received for storage and distribution to the civilian population by humanitarian contractors operating in the Strip. In total, 11 shipments have been made by suitable watercraft and more are expected in the near future.
The La Roire ship is expected to depart today, carrying 150 pallets of humanitarian aid, while a US ship is expected to depart early next week, carrying over 3,000 tonnes of aid.
Based on estimates, the aid delivered and distributed so far is enough to feed tens of thousands of civilians for a month, while the target of being able to provide humanitarian assistance to 500,000 civilians per month remains and is achievable.
The assistance so far is mainly in the food category, but at the same time, hygiene items, temporary shelters and health care are part of the quantities being sent by sea. The financial value of the aid sent exceeds $1 million.
Additional aid from partners and stakeholders is expected to arrive in Cyprus for transit to the civilian population of Gaza under the Amalthea Plan.
Planning continues unaffected and as normal so that the Amalthea Plan fulfils the objective for which it was launched, namely to increase the volume of humanitarian assistance transported by sea as a complementary transit route."
The Spokesperson went on to say: "In accordance with Article IV of its Articles of Agreement, the International Monetary Fund (IMF) holds bilateral discussions with members. As part of the 2024 consultation with Cyprus, a package of documents has been released on May 28. This includes 1) the Press Release summarizing the views of the Executive Board during its consideration of the Staff Report and 2) the Staff Report, following discussions concluded on March 29 with Cyprus officials on economic developments and policies.
On 22 May, the Executive Board concluded its Article IV consultation and approved its assessment of Cyprus.
Specifically, as reported, among other things, Cyprus has recovered quickly from the pandemic and has proven resilient to multiple adverse shocks.
Growth remained strong, above the euro area average, supported by the ongoing recovery in tourism, financial services and the expansion of the Information and Communication Technology (ICT) sector and strong investment.
Core inflation[/B] has fallen below 2%. Strong fiscal performance continues, contributing to a significant reduction in public debt.
The banking sector has ample capital and liquidity buffers and, despite restrictive financial conditions, risks appear to have abated.
The outlook is positive. Growth is expected to remain stable in 2024, before gradually rising to an estimated potential 3% over the medium term on the back of strong investment and structural reforms.
Easing negative energy price effects and administrative measures will slow inflation, but high interest rates, negative base effects and more stable international prices will keep it at around 2% in 2024.
Short-term risks are mostly external and downside, while medium-term risks from climate change are offset by opportunities to attract more foreign investment and talent.
We welcome the comments and recommendations of both IMF staff and Executive Directors.
We note the assessment that the Cyprus economy has been particularly resilient despite adversity, and that the macroeconomic and fiscal fundamentals are showing resilience. Fiscal policy is aimed at debt reduction with primary surpluses being maintained until government debt falls below 60% of Gross Domestic Product (GDP).
On the issue of structural reforms, the view on further reforms coincides with the key priorities of our governance programme in terms of the need for reforms that will catalyse the modernisation of the state and shield our economy.
The dynamic implementation of energy infrastructure projects, along with additional mitigation measures, to achieve these goals and systematic climate risk assessment along with an adaptation strategy to mitigate the costs of climate change, which is an IMF climate view, also fully aligns with the policies that the Government is promoting and implementing and of course measures are already being taken.
The IMF's announcement (29/5) comes immediately after the recent Moody's rating (25/5), which upgraded the outlook for the Cypriot economy from stable to positive, as well as the European Commission's spring forecasts, according to which Cyprus is among the three countries in the Eurozone with the highest growth rate in 2024.
These figures are the result of the prudent, serious and responsible economic policy that the Government is following and implementing. It is this economic policy that we will continue to implement and follow, and it is precisely this economic policy that allows us to pursue an effective social policy, to strengthen key sectors and infrastructures of Health, Education, Security, but also to be able to cope with crises due to geopolitical developments.
We will continue the responsible policy that allows the economy and our country to move upwards. We remain committed and committed to the implementation of President Christodoulides' programme of governance. An ambitious governance programme that aims to improve the daily lives of our citizens and that puts our country and our economy on a path of growth, strengthening and enhancing our international footprint."
(PM/MS/NYAN)
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