Yesterday’s figures released by the Statistical Service of Cyprus, which include Cyprus’ key social and economic indicators, reaffirm what we have been saying all along. That is to say, the “therapy” imposed by Nicos Anastasiades, in cooperation with Nicholas Papadopoulos, has failed.
On the one hand, it has failed because the crisis has been loaded on to the backs of society, working people, small and medium-size businesses, the unemployed and pensioners. Wages have declined, poverty rates have deteriorated and a significant number, mainly young people, have migrated abroad.
Secondly, it has failed because this “therapy” imposed hasn’t solved the principal problem of the Cyprus economy and the banking crisis. Non-performing loans have doubled and now exceed € 22 billion, making Cyprus a global phenomenon as regards non-performing loans.
Cyprus needs a comprehensive plan for its economy, so that growth can improve living standards for the many, not for the privileged few.
Only the candidacy of Stavros Malas can guarantee this.

Statement by Yiorgos Loucaides, AKEL Political Party member and AKEL-Left-New Forces Parliamentary Representative
AKEL C.C. Press Office, 28th December 2017, Nicosia