Finance Minister Makis Keravnos on Monday met with outgoing Fiscal Council president Michalis Persianis, focusing on economic matters and the transition of leadership at the council.

During the meeting, which was held at the Finance Ministry in Nicosia, both sides exchanged views on broader economic issues as well as matters relating to the smooth succession process for the presidency of the Fiscal Council.

On his part, Persianis thanked the minister for what he described as their “excellent collaboration” throughout his tenure.

He also congratulated Keravnos and the ministry for their policy decisions and their overall stance in ensuring the sound management of the country’s economy.

From his side, Keravnos praised the significant contribution of Persianis during his time as president of the Fiscal Council.

“The way he worked, the spirit of close cooperation he demonstrated, as well as his always timely and well-founded interventions and recommendations, decisively facilitated the work of the government and the minister in the context of our shared pursuit of maintaining a proper direction in fiscal matters for the benefit of the economy and safeguarding public finances,” the minister said.

He also thanked Persianis and “wished him success in his next professional steps”, expressing satisfaction with the excellent cooperation between the two throughout their respective terms.

The meeting comes shortly after Persianis publicly confirmed his intention to step down from the role, marking a key development for the Fiscal Council leadership transition.

In his original announcement, he said he had already informed the Finance Minister and the executive branch of his decision, following consultations with the council’s board members and staff.

“There are no political or other dimensions,” Persianis said at the time, stressing that his departure is based on personal and practical reasons.

He explained that these practical considerations relate to the planning of activities and the completion of important projects within the year, as well as the need to ensure a smooth transition in leadership.

Persianis also stated that he will remain available to support the organisation during the transition period, aiming to ensure continuity in its work.

Persianis has served as president of the Fiscal Council since 2022, with a six-year term originally envisaged.