Cyprus is the only country in the EU that has managed to bring inflation down to zero, and this constitutes a favourable juncture for the conclusion of the social dialogue on the Cost-of-Living Allowance (CoLA) in an agreement, Minister of Finance, Makis Keravnos, said, urging all relevant parties for a positive outcome of the social dialogue.
Speaking on 19 September, Keravnos stressed that “the dialogue must continue in a constructive and positive spirit from all sides”, adding that “it is inconceivable at this time, when Cyprus is the only country that has brought inflation down to zero, while in the previous period inflation was negative, that we cannot reach a conclusion."
That is why, he noted, "I appeal to all parties: this is a favourable juncture for us to reach an agreement.”
Regarding the fiscal impact of the Ministry of Labour’s proposal on the state payroll, the Minister said that the Ministry of Finance acts proactively on all matters, even those that could arise and are not part of today’s discussion. “The Ministry of Labour has so far submitted a framework, attempting to contribute to the dialogue. From then on, when specific data is available, we will calculate the necessary cost,” he said.
Agreement paves the way for Cyprus Stock Exchange privatisation
Keravnos was replying to questions after signing an agreement with the trade unions for the transfer of Cyprus Stock Exchange employees to the public service in the event of its privatisation.
“The signing today of the agreement paves the way for the discussion of the government bills that have been submitted by the government to the House of Representatives,” he said, noting that the common goal is that the privatisation of the CSE will lead to the strengthening of the capital market, with all the positive results.
(Source: CNA)
