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Possible economic consequences from Iraqi war are reversible, says
2003-03-06 14:15:09

Nicosia, Mar 6 (CNA) ? Any possible consequences to the Cyprus economy from a war in Iraq are reversible, it was expressed here Thursday during a meeting of the Finance, Commerce, Industry and Tourism, Labour and Social Insurance and Communications and Works ministers.

Possible economic consequences from Iraqi war are reversible, says Kyprianou An initial exchange of views was carried out without taking any decisions and it was agreed to exchange written suggestions in the next couple of days and to hold another ministers' meeting on 12 March where final decisions will be taken.

Finance Minister, Markos Kyprianou, who convened the meeting, said the package of measures will cover the economy sector and will be announced as soon as it is ready.

"It is proper and wise to be ready and have the necessary preventive measures set which will be implemented once and if it is considered essential,'' he said adding that "through a proper strategy, these consequences can be avoided".|

"After examining the consequences, we believe they are reversible, and if the proper measures are taken, then we can avoid serious repercussions and alleviate any negative developments", Kyprianou added.

Finance Minister Kyprianou said that although Cyprus is not in the centre of the war zone, "there is a possibility that just as the rest of the world and the Mediterranean will be affected, so will Cyprus". He added that some measures would have to be taken in the tourism sector.

Commerce, Industry and Tourism Minister Yiorgos Lillikas said a preliminary planning was carried out during the meeting, and suggestions were put forward by the four ministries involved, as well as the views of the tourism industry, adding that tour operators will be informed on Monday.

He expressed hope that next week they will decide on a specific package of measures.

CNA/KS/EC/MK/2003
ENDS, CYPRUS NEWS AGENCY

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