In light of developments in the broader Middle East and Eastern Mediterranean region, the Minister of Finance, Mr. Makis Keravnos, convened an emergency staff meeting this morning at the Ministry of Finance where the developments and any potential impacts on the economy were reviewed.

During the meeting, all factors that could directly affect the economy were examined, along with sectors that could experience significant impacts from a potential escalation of the crisis. Opinions were exchanged regarding planning and preventative actions that the Ministry of Finance could undertake if necessary.

As determined during the meeting, for the time being, there appear to be no risks to the Cypriot economy.

The Ministry of Finance will closely monitor the developments and is ready to take necessary actions and implement measures if required