Economy category powered by

Minister of Finance says financial economic policy will be in line with strict fiscal discipline

Minister of Finance, Makis Keravnos expressed the government position in favor of continuing with the provision of the cost of living allowance (COLA), and noted its commitment to the implementation of an economic policy within the framework of strict fiscal discipline and financial stability.

Keravnos was addressing a delegation from the Board of Directors of the Cyprus Employers and Industrialists Federation (OEB), as part of a formal meeting at the Ministry of Finance.

According to a statement from the Ministry of Finance, during the meeting, views were exchanged on economic issues in general, as well as on specific issues that concern OEB, such as COLA, the minimum wage and the employment of foreign workers. Also, issues related to the enforcement of green taxation and tax restructuring, the shipping industry and the construction industry were raised on the part of OEB, in relation to the conditions that are emerging in the international economic environment.

The Minister of Finance thanked the President and the members of the OEB delegation for the meeting, and invited OEB to participate constructively in the dialogue conducted by the Minister of Labour to settle the COLA issue, noting that he is in constant contact and cooperation with the Minister of Labour. Keravnos assured the President of OEB, that the Ministry of Finance will continue the cooperation with the Federation to exchange opinions and proposals, concerning the economy and its individual branches.

(Source: CNA)

Read More

US-based international crypto player Kraken arrives in Cyprus via acquisition
Attica Bank's main shareholder wants Constantinos Herodotou as bank's Board Chairman
Finance Ministry calls for restraint towards avoiding supplementary budgets
Kuwaiti Ambassador stresses importance of strengthening dialogue between Cyprus, GCC annd Arab countries
Mobile connection problems for 1/5 of consumers while travelling, OCECPR survey says
Interest rates continued to rise in December 2024, CBC says
Sparkle and Cyta sign agreement for BlueMed submarine cable landing in Cyprus
St Raphael Resort & Marina reopening in March following renovation
Hermes Airports' Maria Kouroupi: "We remain firmly committed to further enhancing Cyprus' connectivity" (video)
Demetris Skourides: Cyprus' innovation ecosystem has emerged as one of Europe’s most rapidly developed