Cypriot President Demetris Christofias and the leaders of the parliamentary parties will hold a broad meeting Friday afternoon to discuss about the economy and the measures needed to be taken to consolidate public finances.

During the meeting, they will discuss about the set of economic measures, aiming at rationalizing the public finances, which was agreed by the government and the coalition parties, ruling AKEL and Democratic Party (DIKO) last week.

Government Spokesman Stephanos Stephanou had said that “the aim is to achieve consensus and agreement for the assumption of a joint responsibility to tackle the consequences of the global financial crisis and the consolidation of the Cypriot economy“.

He also had said that the fiscal targets include the drafting of a three-year programme for the reduction of the budget deficit, with a focal point the control of public spending on the basis on Cyprus` obligations to the EU.

He added that “the medium-term fiscal framework will be submitted for approval along with the 2012 state budget.“