Minister says Cyprus has exited recession

The Minister of Transport, Communications and Works Marios Demetriades has said that Cyprus has finally passed through the "rough paths" of recession and has moved to investment growth with significant prospects especially for the construction industry.

Speaking during the recent 20th Annual General Assembly of the Federation of Associations of Building Contractors in Cyprus (OSEOK) Demetriades noted that the efforts made by the Government and especially by his Ministry is to find ways to raise money through EU funding and through private investment that will allow us to set up new projects.

He recalled that already the President has announced projects worth €80 million, most of which are in the process of bids. The Minister said that these projects will revive the construction industry and create jobs.

Source: InCyprus