Cypriot Finance Minister Makis Keravnos.
The chairman of Cyprus Employers and Industrialists Federation (OEV), Giorgos Pantelides, has expressed concerns for broader and long-term consequences in the Cypriot economy, due to the ongoing conflict in the Middle East, and noted the federation’s expectations for a proactive plan on behalf of the government.
Pantelides spoke to journalists on Thursday, after a meeting of the federation’s board with Finance Minister Makis Keravnos, during which they discussed the current situation and the measures taken to tackle the effects of the crisis.
Keravnos, who was replying to a question on the matter, said that “it is not particularly important to discuss new measures when the measures that were just announced [on Wednesday] have not yet been implemented so that we can see how they work in tandem with developments.”
Pantelides noted that the situation is still volatile and added that the consequences in the economy will show depending on the intensity and the duration of the conflict in the Middle East. He did add that the resilience of the Cypriot economy allows “some time to plan those actions that will ensure both fiscal stability and maintaining the resilience of our economy.”