NICOSIA, Nov. 3 (Xinhua) -- Cypriot President Demetris Christofias has reassured the public that his government follows a "calculated financial and social policy" to safeguard the island state from world financial crisis, local media reported on Monday.

    Without ruling out any fallout from the global financial crisis, Christofias said the calculated financial and social policy would continue to benefit the people, especially those in need.

    Cypriot officials have so far appeared very confident about their banking system, repeatedly stressing their banks are robust and there should be no panic at all.

    As the global crisis deepens, the government has acknowledged that some sectors of the island's real economy could suffer if the crisis persists.

    Christofias has asked his cabinet to draw up a series of short and medium-term measures to counter the possible fallout of a prolonged global financial crisis.

    No details of the measures have been disclosed, but the Cypriot government obviously pays special attention to its tourism and the construction industry.

    The World Tourism Organization predicted last month a 9 percent reduction in the number of Europeans who will holiday next year due to the credit crunch and looming recession.

    Meanwhile, the total number of foreign tourists coming to Cyprus in September fell 3.2 percent as compared with the same period last year, according to official statistics. Britain, Cyprus' leading market, slumped 11.6 percent.

    As for the real property sector in Cyprus which has boomed in recent years, many developers, especially those targeting foreigners, have found it is not as easy as before when they try to sell the property to pensioners from Britain and other European countries.