Economy category powered by

Increasing wage adequacy a strategic goal for the government, Spokesperson says

07:56 - 07 November 2024

Economy Reporter

The increase of wage adequacy is a strategic objective of the government, Government Spokesperson Konstantinos Letymbiotis said in a post on X, commenting on data released by CySTAT.

According to the data, the average gross monthly earnings of employees for 2023 showed an increase of 7.3% compared to 2022. The Government Spokesperson noted that there was an increase in all sectors of economic activity compared to the previous year.

"Strengthening wage adequacy is a strategic objective of the Government, in line with the measures taken to address housing issues, the household support and the recent Demographic Recovery package", he said.

Also read: Monthly earnings of employees in Cyprus rise 7.3% in 2023

(Source: CNA)

News Feed

Read More

CyRIC coordinatin Code: Re-farm project
e-kofini app available for consumers
Plenary accepts presidential referral of law on cash transactions for goods/services
Cyprus's Corporate tax rate increase to 15%: A new chapter in tax law
Christina Kokkalou: Organic growth, strengthening presence, open to mergers or strategic partnerships
Hermes Airports' contract has officially been extended
Turnover Value Index of Wholesale Trade records 4.6% increase in Q3
Balram Chainrai has "checked-in" to Rodon Hotel, acquiring 2.67% of its shares
Bank of Cyprus announces measures to support the Cypriot economy and its customers
Hellenic Bank announces targeted measures to support society