Government Spokesman Stephanos Stephanou has assured that the government is monitoring the economic situation and is working to improve public finances.

In statements Tuesday on the economy, the Spokesman referred to Cyprus’ budget deficit, noting that the government’s target and its commitment to the EU is to achieve 4,5%, which seems to deviate from the European Commission’s forecast of 5,1%.

“The European Commission forecasts 5,1% while our target was 4,5%. This is a difference of 100 million euro. We have said that this difference is manageable because we firmly believe that through economic growth and the implementation of the economic package of measures we announced last December, we will be able to meet our EU targets”, he went on to say.

Noting that the world economy as well as the European economy are going through difficult times, Stephanou recalled that the government announced Monday a series of agreements which aim to boost the tourist industry.

Referring to tourism, Stephanou said that in the first four months of 2011 an increase of 17,6% in the number of tourists was recorded.

He also said that the government’s goal is to fully implement the economic package which provides, inter alia, for a 35 million euro contribution by civil servants to public finances for 2011 and 2012.

Stephanou said that the government takes into consideration the welfare of its citizens and referred to a number of measures taken in the framework of government social policy.