Georgiades noted that the third review of
A delegation of
"There has been significant progress" Georgiades told the Press, adding that "the banking sector is stabilising".
"I can announce that, starting next week, we will have significant relaxations of the restrictive measures", said the Minister of Finance.
He noted however that the challenge to deal with non performing loans still remains.
Public finances remain under control, confirming the correctness of the planning and decisions made so far, he said.
Georgiades also said that the updated Memorandum of Understanding includes no alterations in timetables and in relation to the recovery process of non performing loans.
"No new provisions are introduced and there are no changes in key macroeconomic data for the next years" said the Finance Minister.
He pointed out that all of the Government's moves and planning aim at creating a new development dynamic and added that through development, investments, entrepreneurship and encouragement of the private sector, unemployment will be tackled.
Although there has been some delay in some issues, the Minister noted, the Troika notes that "we have surpassed our goals" and the international markets acknowledge that the programme is progressing determinedly.
Georgiades said that the amount of the next tranche will be determined in the coming days.
He noted that in order for the next tranche to be disbursed the Parliament must pass the bill that defines the structures and decision making processes for the privatisation of semi governmental organisations, warning that if the bill does not the House approval "we will have problems during the next Eurogroup meeting". He said that the bill will be sent to the Parliament soon.
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