Cyprus enters recovery phase, says FinMin as banks say they are ready to support the economy

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The first signs from the market following the partial lifting of lockdown measures are very positive, Minister of Finance Constantinos Petrides said on Tuesday, adding that “we will emerge victorious from this uncertain battle.” Cyprus President Nicos Anastasiades and Petrides discussed the situation of the economy with the CEOs of the Cypriot commercial banks after the launching of the government second support package that contains interest rate subsidies and VAT reductions for the tourist sector and guarantees to the European Investment …

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