PwC Cyprus on Wednesday has released a comprehensive study entitled “Restart Cyprus: Now.”
“It includes a series of proposals, aimed at promoting reforms to restart and transform the economy and achieve sustainable growth in the post COVID-19 era,” a statement released on Wednesday said.
“As we repair the damage caused by the pandemic, we also need to rethink and reconfigure the economy and business models. This is not the time for easy solutions. This is the time to transform the Cyprus economy and businesses to be fit for the 21st century, in line with the EU priorities of a Digital and Green economy. The key to achieving this is a common vision and collective effort,” PwC Cyprus CEO Evgenios Evgeniou commented.
The new study includes targeted proposals aimed at achieving recovery and reconfiguring the economy which concern the State, businesses but also society as a whole.
“Staying put is regress – however good the level at which we are stationed. Open exchange of ideas and decisions that go to the heart of our economic system have to be made all the time,” commented Sir Christopher Pissarides, Nobel Laureate for Economics.
The study focuses on strengthening our economy’s competitiveness and achieving economic and social resilience, according to the statement. It presents specific ways to increase productivity as well as to enhance development and create jobs, in line with the priorities set by the European Union especially as regards to a digital and green economy,” the statement said.
“The proposals included in the “Restart Cyprus: Now” study focus on social developments, environmental reforms as well as on public sector reforms. Additionally, it further extends to research and innovation, education, transportation, as well as other sectors, such as alternative investments (i.e., aggrotech) and sustainable tourism,” the statement continues.
This is PwC Cyprus’ third study regarding the impact of the pandemic, as well as the restart and transformation of the economy for the 21st century. The two previous ones, entitled “COVID-19 – Impact of the pandemic on the Cyprus Economy” and “Restart Cyprus”, focused on the impact of the pandemic’s first wave on almost 20 economic sectors as well as on the organisation’s recommendations regarding the measures that could be taken to achieve the recovery of the economy respectively.
The report is available at www.pwc.com.cy/restart-cyprus.
