Press Releases

The Minister of Finance, Mr Constantinos Petrides, participated in the Eurogroup meeting and the EU ECOFIN Council, in Brussels, on 20 and 21 January 2020.

The Minister of Finance also held a series of contacts with EU and other European officials and made the following written statement:

“During my first participation in the Eurogroup meeting in Brussels yesterday, I had the opportunity to reassure my colleagues and representatives of the institutions on the three pillars of the Government's economic policy priorities: Maintaining a prudent fiscal policy and further reducing public debt, reducing Non-performing loans (NPL), and continuing and completing the series of reforms we have enacted.

I also discussed in detail the government's economic policy with the President of the Eurogroup, Mr. Mario Centeno, during a meeting we had before the start of the Eurogroup.

Yesterday, I also had a private meeting with the Greek Minister of Finance, Mr. Christos Staikouras. It was a very important meeting, during which we agreed to have an open dialogue and coordination on all Eurogroup and ECOFIN issues, especially when it comes to Cyprus and Greece.

I also had a bilateral meeting with European Commissioner, Ms Stella Kyriakidou, with whom we exchanged views on the main European policies, especially those that interest or concern Cyprus most.

Today, at the ECOFIN Council, the first meeting of the EU Finance Ministers under the Croatian Presidency of the EU Council, I had the opportunity to exchange views on the tax challenges arising from digitization.

The Commission also presented the economic and financial aspects of the European Green Agreement, the European Green Deal Investment Plan (EGDIP).

In the afternoon, I will have important successive meetings with European Cohesion and Reforms Commissioner, Ms Elisa Ferreira, and with European Budget and Administration Commissioner, Mr. Johannes Hahn. The focus of discussions with the two Commissioners will be the new Multiannual Financial Framework (MFF) for 2021-2027, i.e. the next seven-year EU budget. We intend to keep the size of the MFF at a level comparable to the current period. Emphasis is placed on the need for adequate resources in Cyprus for Cohesion and Rural Development Policies. A very important element for Cyprus is also the level of expenditure on research and innovation, as well as on migration.

My contacts in Brussels conclude with a meeting with the Director-General of the Structural Reform Support Service, Mr. Maarten Verwey.”

For the tour de table, click here. 

(MF/EH)