Cyprus Fiscal Council and CYFA sign Memorandum of Cooperation

The Cyprus Fiscal Council and the Cyprus Fiduciary Association (CYFA) has signed a Memorandum of Cooperation (MoC) with the aim of exchanging views and jointly promoting the study and analysis of issues of mutual interest, says a press release issued by the Cyprus Fiscal Council.

It is noted that the memorandum provides for the joint development of working groups and the organisation of workshops as well as the mutual exchange of expertise in matters related to the development prospects of the Cypriot economy. The terms of the memorandum are governed by the principles of confidentiality and data protection obligations of both parties, the announcement said on Friday.

The General Director of CYFA, Christoforos Ioannou, expressed content over the completion of the memorandum of cooperation with the Fiscal Council which, as he said, "constitutes one of the most important economic bodies of the state, which is charged with the key mission of ensuring sustainability and resilience of public finances".

He also expressed the certainty that "the exchange of views on the various challenges that concern the economy, will give the possibility of further strengthening the Association's positions."

The President of the Fiscal Council, Michalis Persianis, stated that "the memorandum allows the Fiscal Council to strengthen its structures and analytical dynamics in relation to the prospects, challenges and demands of the Cypriot economy."

In addition, he said that he looks forward to the exchange of views and assessments on the needs of the economy in a difficult period. "The cooperation of the private sector with the public sector will significantly strengthen the arsenal the economy has at its disposal to deal with the challenges that emerge and the memorandum in question falls within the framework of strengthening the potential, both of the public and the private sector", he pointed out.

(Source: CNA)