The President of the Cyprus Republic announced during a speech today that all restrictions on banking transactions shall be lifted by Monday, April 6. The restrictions were imposed following the banking crisis in March of 2013.
The President also announced a string of new measures aiming at boosting the economy, such as new development projects across all sectors worth €280 million, completing the second phase of the campus of the University of Cyprus worth €162 million, various measures to decrease unemployment and extending the grace period for urban planning incentives.
"We have proved that we have a solid plan in place and overcoming the difficulties the Cyprus economy has faced was the result of meticulous planning. The measures announced today are not the last ones and others shall be announced in the near future."