President Nikos Christodoulides defended the government’s fiscal policy on Saturday, saying it was the responsible policy that allowed it to spend more than €700 million to address issues faced by households due to high prices.

He also recalled that this year the government is starting to repay a loan “because some followed irresponsible policies that led us to food banks.”

Christodoulides also said that on Wednesday he is traveling to Texas and San Francisco on a mission to attract investments and expressed confidence that there will be results, because there is already interest.

Responding to questions on the sidelines of a visit to Larnaca, he was invited to comment on the IMF’s statements following their consultation mission to Cyprus, March 17 to 28.

Christodoulides said that the government has proved with its responsible economic policy that it takes all the facts into account in addition to the warnings by the IMF on public sector spending.

Commenting on a demonstration organised today by left-wing Akel on the high cost of living and potential ‘green’ levies, the president said everyone has the right to demonstrate and this right is respected. But he went on to say that “if some people believe that such demonstrations will earn them votes, the exact opposite is happening”.

He added “they reinforce the discrediting of the political system with consequences for everyone”.

Christodoulides noted that what we need is sincerity, adding that the government has proven over the past two years that it approaches the issue of high prices with determination.

He also recalled that it is his government that managed to postpone the green tax and has been in contact with the EU Commission for a long time.

Invited to comment further on his investment mission to the US, the President said “the visit has been very well organised.”

He said there will be a large number of meetings with companies that have already shown interest in investing in Cyprus and the region.