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Economy

Cyprus Economic Growth in 2019 Seen at Double EU Average

NICOSIA (AP) — Cyprus’ finance minister says the island nation’s economy is on track to grow by 3.5 percent in 2019, double the European Union average.

Harris Georgiades said Wednesday that all economic sectors will register growth this year in a “more sustainable way.”

He said unemployment continues to shrink at a “very satisfactory rate,” now down to 7% from 16% in the wake of a 2013 financial crisis. He said the government aims to have full employment by 2020.

Georgiades said the public debt is projected to drop this year by around 7 percentage points to 95-96% and projects a further drop to below 90% in 2020.

He said government will cap its spending in the 2020 budget and it will again run a budget surplus.

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PM Kyriakos Mitsotakis’ Address to the Joint Session of the U.S. Congress

WASHINGOTN - The full text of Prime Minister Kyriakos Mitsotakis’ speech to the Joint Session of the US Congress is as follows: Madam Speaker, Madam Vice President, Honorable Members of the United States Congress, Ladies and Gentlemen, There is no greater honor for the elected leader of the people who created democracy than to address the elected representatives of the people who founded their country on the Greek model and have promoted and defended democratic values ever since.

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