Cyprus President Outlines Plan to Rebuild Economy After Bailout
This article is for subscribers only.
Cypriot President Nicos Anastasiades announced a range of tax breaks and subsidies to boost investment and save jobs after the country’s banking sector was torn apart by a financial rescue that imposed losses on depositors.
The government will offer tax breaks of as much as 25 percent for companies hiring new employees for at least one year and create a fund to manage state assets, Anastasiades said today in comments broadcast live on state-run CyBC TV. The package also includes plans to create casinos and the lifting of some building regulations to draw investment in resorts and golf courses.