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Pope's Visit And Meetings In Cyprus Send Strong Message Of Solidarity, President Says

Cypriot FM Invites Egyptian Counterpart To Nicosia

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Karousos Calls For Continued Reforms To Shield The Cyprus Economy

Karousos Calls For Continued Reforms To Shield The Cyprus Economy

The reform efforts aimed at modernizing the economy must continue, Minister of Transport, Communications and Works Yiannis Karousos said on Monday, adding that in the international competitive environment the state and the private sector should further shield the economy.

Addressing the annual general meeting of the Limassol Chamber of Commerce and Industry, Karousos said that the economy and the private sector must further modernize through an extended implementation of innovative ideas and technology.

He added that building, modernising and maintaining a competitive and robust economy requires, among other things, the implementation of innovative ideas, as well as the continuation of the reform efforts.

Karousos referred to infrastructure projects in Limassol, like the new Limassol football stadium and the improvement to the city’s road network that are funded by the National Recovery and Resilience Fund.

He also referred to the installation of smart traffic lights in the Ayia Fila roundabout, which resulted in the reduction of waiting time by 50%, noting that the Ministry will proceed with a tender for the installation of smart traffic lights in 125 points in Nicosia and Limassol that would alleviate traffic jams.

“In an international competitive environment, we are all called on to further shield the Cypriot economy so it would withstand and compete effectively,” he said, while assuring that the Government will continue supporting the Chamber.

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