The Cyprus Stock Exchange (CSE) Chairman George Koufaris expressed certainty on Monday that the CSE would continue to make a catalytic contribution to the development of Cyprus as financial centre, and would play a significant role over the next few years in the growth of the economy.
Speaking at a press conference to present the CSE financial statement for 2009, current developments, the new development programmes and the CSE plans, Koufaris said the CSE was making plans and taking initiatives “in order to become a more dynamic and competitive market in Cyprus and the broader region.“
Referring to the global financial crisis and how it affected Cyprus, Koufaris said that it was unavoidable that it would also affect the CSE with a low volume of transactions, stock price instability, and in general poor interest in investments.
“Even with a lower volume of transactions, the CSE surplus for 2009 was 617,000 EUR, compared to 282,000 EUR in 2008,“ he said.
Copyright © Famagusta Gazette 2010
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