**Annita Appoints Former Fiscal Council Chief Michalis Persianis to Disy’s Shadow Cabinet**
In a significant move aimed at enhancing the economic strategy of the Democratic Rally (Disy), party president Annita Demetriou announced on Monday the appointment of Michalis Persianis as the head of the "resilience and development" portfolio within the party's shadow cabinet. This decision comes as part of Disy's ongoing efforts to address the long-term economic challenges facing Cyprus.
Persianis, who previously served as the chairman of the Fiscal Council from 2022 until July 2023, will now be tasked with monitoring and evaluating policies that impact the resilience and development prospects of the Cypriot economy. His responsibilities will include submitting specific recommendations on key issues such as fiscal responsibility, productivity, competitiveness, investments, and necessary reforms.
Demetriou emphasized the importance of a robust development model for Cyprus, stating, “Cyprus needs a development model which will not be limited to today’s performance but will be able to withstand the crises and challenges of tomorrow.” She highlighted the need for fiscal seriousness, increased productivity, and competitiveness, along with attracting investments that foster sustainable growth.
Persianis brings a wealth of experience to his new role. His background includes significant expertise in fiscal policy and a technocratic approach to economic issues. Prior to his tenure at the Fiscal Council, he held a position in the corporate sector as the director of corporate affairs at the Bank of Cyprus. Additionally, Persianis has a background in journalism, having worked as a correspondent for the Wall Street Journal and as the editor-in-chief for the economics and finance section of the Cyprus edition of the Greek newspaper Kathimerini.
In response to his appointment, Persianis expressed his commitment to strengthening the resilience of the Cypriot economy. He stated, “Strengthening the resilience of the Cypriot economy and creating the conditions for sustainable development require consistency, seriousness, and well-founded choices.” He also noted his intention to collaborate closely with other members of the shadow cabinet to develop specific and applicable proposals that address both current needs and future challenges.
The appointment of Persianis is seen as a strategic move by Disy to bolster its economic policy framework in anticipation of upcoming challenges. As the party prepares for future political and economic scenarios, Persianis' expertise is expected to play a crucial role in shaping effective strategies for the Cypriot economy.