Georgiades who was keynote speaker at an event in Limassol said the economic and financial reform programme agreed with international creditors in exchange to a €10 billion agreed in March 2013, “is delivering” as it helped stabilised the economy and employment levels.

The recovery trend is expected to continue throughout 2015 while “public finances are now safely under control,” Georgiades said.

Georgiades said that Cyprus generated a balanced government budget in 2014 which helped contain public debt to gross domestic product ratio around 20 percentage points below what international creditors initially projected.

Source: Cyprus Mail