The current economic crisis calls for structural changes and reforms to consolidate public finances, President of the Republic Nicos Anastasiades said here on Friday.

Therefore, he noted, the state has the obligation, in cooperation and consultation with the members of the business community of the island, to steer the Cypriot economy towards growth with the right planning and prudence.

In his address at a Gala Dinner held today to celebrate the 50th anniversary of the Limassol Chamber of Commerce and Industry, President Anastasiades said that to this end, his Government is focusing its efforts on a number of measures to restart the economy, adding that the cooperation of the business community is needed for better implementation of the measures.

The cooperation between the Government and financial bodies and Chambers in particular such as the Limassol Chamber of Commerce and Industry, is a catalyst to restart the economy which is what the country needs, he said.

He reiterated that the attraction of foreign investments is his Government’s top priority.

“Foreign investment is a catalyst for the economic growth, business environment, employment and hence the prosperity of our country”, he noted.

The President also said that he personally has launched a campaign to attract foreign investment with a series of missions to countries of strategic importance for investment.

In addition, he said that the contribution of the Limassol Chamber of Commerce as well as of other chambers is extremely important for the introduction of a policy which will promote growth and upgrade the Cypriot companies.

He also assured that the Government would always be a supporter and a partner in every effort of the business community in the struggle for the recovery of the economy of our country.

Cyprus and the Troika of the European Commission, the European Central Bank and the International Monetary Fund agreed on March 25 on a €10 billion bailout, which included imposing losses on bank uninsured deposits as well as fiscal consolidation measures amounting to 7.2% of GDP by 2016