Cyprus Business Now: Fitch report, cooperative bank plan, hotel association

Fitch Ratings projects limited fiscal improvement across European countries, citing uneven adjustments in debt reduction and growth trajectories.

However, the agency mentioned that Cyprus continues to stand out with a positive outlook.

Commenting on the report, government spokesman Konstantinos Letymbiotis said that this “is an irrefutable vote of confidence in the Cypriot economy, the government’s policies, and the collective efforts of the state and society, which are delivering tangible results”.

Letymbiotis also referenced the recent upgrade by Moody’s, which lifted Cyprus’ credit rating to ‘A3’, restoring the island to the ‘A’ grade for the first time since 2011.

Eurobank, already holding a…