Cyprus Mail

Coronavirus: ‘some parties’ raising obstacles to econ bill, Petrides says

Finance Minister Constantinos Petrides: the country wanted to move forward

Certain parties are continuously making new demands and raising obstacles to the approval of the bill on state-backed borrowing, Finance Minister Constantinos Petrides said on Tuesday, warning that the crisis should not be underestimated.

In a written statement on the bill whose discussion has been dragging on, Petrides said it had been extensively debated for the past one and a half months with all parties.

“After three meetings of the (House finance) committee, the submission of written recommendations by all parties, which were answered by the finance ministry, but also the discussion at the presidential palace … certain parties, despite the adoption by the government of most of their recommendations, continuously raise new demands and obstacles to the approval of a very important bill for the economy,” he said.

The minister said they were raising unrealistic demands that would cause a sharp rise of expenses, “ignoring the capabilities of the economy.”

“But the memory of the state having available cash for a few days and being forced to seek rescue from third parties due to the wrong financial handling is still fresh,” the minister said of the days before the economic collapse in 2012.

Petrides warned the “crisis is here, and it should not be underestimated.”

“At a time when all EU countries move swiftly to adopt similar programmes, fully utilising the European framework, we also ought to display the required responsibility towards our fellow citizens and the economy.”

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