National Lisbon Programme of Cyprus (1/2006)-EN
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Σύντομες Ειδήσεις

National Lisbon Programme of Cyprus (1/2006)-EN  

Cyprus prepared the National Lisbon Programme, as envisaged by the European Council in order to advance the targets set out in the Lisbon strategy. During the preparation of the National Lisbon Programme of Cyprus, social partners, political parties and the private sector in general were informed and consulted extensively. Thus, the preparation of the report provided a much-needed platform for a constructive dialogue with all stakeholders on the broad reform agenda. The draft Lisbon programme was prepared by mid-September 2005 and discussed with social partners and the political parties and the final version was submitted to and approved by the Council of Ministers.

Overall Strategic Approach

The overall strategic approach focuses on the need to tackle effectively the challenges faced by Cyprus. The overriding objective of the National Lisbon Programme of Cyprus is to enhance the growth potential of the economy and raise the standards of living and hence achieve real convergence with the EU. The proposed reforms pay particular attention to the need to enhance social cohesion and achieve a more efficient use of natural resources so as to ensure the sustainability of growth over the longer term.

The proposed national Lisbon Strategy aims at creating a dynamic and competitive economy, which will deliver high growth and living standards for the citizens of Cyprus. A healthy and stable macroeconomic environment underpinned by sound fiscal and monetary policies, is a prerequisite for the successful implementation of these reforms. Policies to enhance investment in physical and human capital, research and development, and the country’s infrastructures are key.

Sound macroeconomic policies, structural reforms in labour, product and capital markets are imperative for a more dynamic and well-functioning European Monetary Union (EMU). In this respect the policies set out in the programme are based on the principles governing EMU and the long-run targets outlined in the Lisbon Agenda.

The enhancement of productivity and of the competitiveness of the economy constitute core elements of the Programme which will help raise long-term growth, but will also make the transition and participation to the Euro zone easier.

Key Challenges for Cyprus: 

  • Sustainability of public finances.
  • Improve the quality of public finances via a redirection of public expenditure.
  • Increase the diversification of the economy towards higher value added activities through mainly, an increased utilisation of the comparative advantages of the island.
  • Promotion of Research and Development and innovation as well as facilitation of Information and Communication Technologies diffusion.
  • Structural reforms targeting at enhancing competition and improving the overall business climate.
  • Upgrading of basic infrastructures.
  • Further human capital development:
    • Enhancement of the links of the educational system to labour market needs.
    • Development of a comprehensive national framework for lifelong learning.
    • Continuous upgrading and adaptability of skills to labour market needs

  • Further enhancement of the conditions of social cohesion

  • Ensuring environmental sustainability.