The government will continue supporting economic activity so that after the pandemic is over, positive growth rates that existed before will return, Finance Minister Constantinos Petrides said on Saturday.
In a written statement, Petrides refers to the affirmation on Friday by Standard & Poor’s international credit agency of Cyprus’ credit rating from stable to positive, confirming its credit rating of BBB-.
According to the Minister, the S&P notes that its decision to revise its outlook on Cyprus to positive from stable and affirming its `BBB-/A-3` ratings reflects its view that, following the severe shock caused by the pandemic in 2020 and beyond the related near-term uncertainty in 2021, it could upgrade Cyprus within the next 24 months if the country`s economic and budgetary performance continue to strengthen, supported by the government`s implementation of structural reforms.
Continue reading at source: Gold News
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