Cyprus Is Showing Progress

Politics ♦ Published: July 31, 2013; 17:20 ♦ (Vindobona)

According to estimates by its international creditors, Cyprus is showing progress at the reorganization of its state budget.

Cyprus Is Showing Progress / Picture: ©

“All the fiscal targets have been met as a result of significant fiscal consolidation measures underway and prudent budget execution. The authorities have taken decisive steps to stabilize the financial sector and have already been gradually relaxing deposit restrictions and capital controls. While the authorities have started to implement the program with determination, risks remain…