Minister of Finance Makis Keravnos has expressed disappointment over the decision of the employers' organisations the Cyprus Chamber of Commerce & Industry (CCCI) and the Cyprus Employers & Industrialists Federation (OEB) to reject the draft agreement on the Cost of Living Allowance (CoLA), noting that the data will be evaluated and a decision will be made on how to continue the process.
In his statements and when asked, Keravnos said that "I want to express my disappointment, because significant concessions have been made by all sides and we had reached a point where there could have been an outcome."
Asked to say how the process is continuing, the Minister of Finance said that "this will be evaluated. The situation will be evaluated and where the issue is balanced today and we will see."
In relation to tax reform and when asked to assess whether the measures included in the six bills before the House will be voted on in a timely manner, Keravnos said that "there is consensus for cooperation with the President and the members of the Finance Committee."
At the same time, he expressed his certainty that there will be good cooperation in order to achieve the best possible result regarding the passage of the six bills, noting that "it is something that will breathe new life into both our economy and society."
"The tax reform will significantly benefit individuals, families with children and students, and of course our businesses to continue their growth path," he concluded.
(Source: InBusinessNews)
