Andreas Charalambous appointed as new head of the Fiscal Council

On Monday, the government appointed economist Andreas Charalambous as the new head of the Fiscal Council. He replaces Michalis Persianis, who held the position since 2022 and stepped down before the completion of his six-year term. Charalambous holds a PhD in economics and has extensive experience, having served as a long-term official at the Ministry of Finance and as the former head of the Cyprus Securities and Exchange Commission. The Fiscal Council is an advisory body composed of three members appointed by the cabinet following consultations with the House finance committee. Its stated mission is to provide public intervention to prevent fiscal derailment through counter-cyclical and macro-prudential policies. Reports indicate that Persianis expressed his intention to resign, leading to the appointment of his successor. The transition was finalized with the signing of the official appointment contract.