The leaders of the three main parliamentary parties in Cyprus recently convened to discuss their concerns, proposed solutions, and their assessment of the economic policy under the government of Nikos Christodoulides. In this meeting, Annita Demetriou, President of the Democratic Rally (DISY), Stefanos Stefanou, General Secretary of the Progressive Party of Working People (AKEL), and Nicolas Papadopoulos, President of the Democratic Party (DIKO), expressed their views during the AKEL-organized Economy Forum held on October 31st.

This forum, following the Presidential Elections, marked the first significant opportunity for these leaders to engage in an in-depth dialogue on economic issues. A general consensus was evident among the trio, suggesting that the Cypriot economy is advancing in the right direction, with steady upward growth. However, there were disagreements on specific issues, which they believed could be resolved through further discussion.

For instance, all three leaders agreed on the positive upgrade from rating agencies, reflecting optimistic prospects for the economy, indicating a path that should be continued. They also concurred on the direction of the measures and support package for citizens. The leaders were aligned even in recognizing the challenges facing the Cypriot economy, such as high interest rates and the costs associated with energy and inflation.

Annita Demetriou, the President of the House of Representatives and leader of the Democratic Rally (DISY), made an impactful statement emphasizing the party's stance on fiscal discipline and financial stability. She articulated DISY's opposition to decisions involving permanent, across-the-board measures.

Demetriou also reiterated DISY's concerns over the rising inflexible expenses resulting from significant increases in the state payroll. In addition, she expressed disagreement with policies leading to increased taxation. Highlighting the government's need to address various issues, she mentioned specifically the adjustment of the €350 company fee and the need for reform in the taxation of family income.

On his part, Stefanos Stefanou, the General Secretary of the Progressive Party of Working People (AKEL) and organizer of the Forum, stressed that Cyprus must move away from what he described as a 'predatory' economy towards a more visionary approach.

Stefanos underlined the importance of timely and appropriate reforms and investments that add depth to the economy. He also spoke about how resolving the Cyprus problem could offer more opportunities. "Had the Cyprus issue been resolved, we would have more opportunities, and rather than seeking solutions like Euroasia, we could have opted for a country that today is an occupying force," he explained pointedly.

In conclusion, Stefanou remarked, "What we can learn from our current times is that we need to act with the foresight of Prometheus, not the hindsight of Epimetheus, in terms of public interest, benefiting our society and our homeland."

Nicolas Papadopoulos, President of the Democratic Party (DIKO), acknowledged the ongoing significant challenges faced by the Cypriot economy, including high interest rates, soaring energy costs, and inflation. Yet, he highlighted the decisive actions taken by the Christodoulides government to address these issues.

Specifically, he cited the government's swift measures to support citizens, including Adjusted Tax Allowances (ATA), fuel, energy subsidies, and photovoltaic initiatives, while mentioning new decisions related to housing policies. Regarding the ATA, Mr. Papadopoulos noted potential areas for reassessment, such as implementing a progressive rather than a flat-rate system.

Discussing the government's economic trajectory, President Papadopoulos emphasized that the Christodoulides administration first needed to gain market credibility to introduce these measures. He mentioned this credibility was achieved with the submission of the 2024 budget. He proudly referred to it as a surplus budget, which, by 2026, is expected to meet the Maastricht criteria - a feat unachieved since 2008.

In the discussion panel moderated by presenter and journalist Gogo Alexandrinou, Stefanos Stefanou was asked about the party's stance on the 2024 budget. Stefanou stated that AKEL's support for the budget would be discussed internally and decided at a later stage.

Focusing on economic proposals, Stefanou highlighted AKEL's suggestions regarding housing policy. He claimed that the party had provided the government with specific, costed proposals. Expressing satisfaction with the new housing policy announced by the government, Stefanou acknowledged the adoption of some of their recommendations. However, he pointed out two critical missing elements.

Stefanou noted, "While we observed commendable plans and programs in the government's new housing policy announcements, two crucial points are absent, which are vital to effectively address the housing problem." He emphasized the necessity of establishing a Unified Housing Authority to coordinate and improve programs. He remarked that although this was part of Christodoulides' program, its actual implementation was vital.

Furthermore, Stefanou addressed the second issue of financing. He criticized the 2017 transformation of the Housing Finance Organization into a bank, arguing that it hindered its ability to conduct social policies. Stefanou urged the government to clarify its plans for the organization, adding that the Interior Minister found their proposal on this framework interesting.