Politis

Organic Link Between Foreign Businesses and Cypriot Society is Crucial, Says Fiscal Council President

Published January 12, 2026, 15:22
Organic Link Between Foreign Businesses and Cypriot Society is Crucial, Says Fiscal Council President

The President of the Fiscal Council of Cyprus, Michalis Persianis, emphasized to the Parliamentary Committee on Finance the importance of the organic link between foreign businesses and the Cypriot economy and society. This is considered essential to ensure the benefits of investments in Cyprus and reduce the risk of capital flight. Mr. Persianis stated that growth and exports are driven by foreign high-tech companies, while wage increases are not satisfactory in relation to Gross National Product. He also pointed out the lack of a strategic management of foreign direct investment and the need for a policy that encourages the expansion of Cypriot businesses abroad. Finally, he referred to the increase in the state's debt to the Social Insurance Fund, which however does not violate any rules.