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Cyprus Announces Package Of Measures To Stimulate Growth

February 15, 2012

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The Council of Ministers on Tuesday approved a new package of measures aiming at boosting economic growth, supporting employment, productivity and competitiveness of the Cyprus economy.

FOR IMMEDIATE RELEASE
(Free-Press-Release.com) February 15, 2012 -- Speaking to the press after the Cabinet meeting, Government Spokesman Stephanos Stephanou said that the measures do not include the construction of casinos.

Spokesman noted that achieving a successful fiscal consolidation, maintaining a favorable taxation system for businesses as well as the promotion of development projects, are the main preconditions for economic growth.

According to Stephanou, the new measures cover all the areas of economic activities and they include, amongst others, the encouragement of employment, the improvement of the framework for foreign investments, the introduction of mechanism for the funding of small businesses, the upgrading of the taxing system for the real estates and the support of the tourist industry and the green growth.CNA
www.cyprusexpat.co.uk

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Name: Penelope Hearns

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