Sigma Live

Persianis: Crucial to Connect Foreign Investments with Economy and Society

Published January 12, 2026, 14:14
Persianis: Crucial to Connect Foreign Investments with Economy and Society

The President of the Fiscal Council of Cyprus, Michalis Persianis, emphasized to the Parliamentary Committee on Finance the criticality of organically connecting foreign investments with the Cypriot economy and society. He highlighted that growth and exports are largely driven by foreign high-tech companies, while wage increases are not proportionate, resulting in unequal wealth distribution. Mr. Persianis proposed adopting a model similar to that of Ireland, where foreign investments are encouraged to connect with the local economy, reducing the risk of capital outflow. Additionally, he referred to the increase in state debt to the Social Insurance Fund, a phenomenon observed since the fund's establishment.