The Director General of Cyprus Employers & Industrialists Federation (OEB), Michael Antoniou, warns of the negative consequences of a possible acceptance of the unions' request for a revision of the National Minimum Wage, stating that the discussion is over for the next two years.
As he states in his post on X, "any acceptance of the Unions' demand for a revision of the National Minimum Wage, which was set as of 1/1/2026, would be tantamount to abolishing the rules of tripartite cooperation and would lead labour relations into chaos."
According to him, "OEB is not satisfied either - it considers the size of the increase in the Minimum Wage to be economically unfounded, for the reasons it explained in detail."
However, he emphasises, "these are the rules of the system. We tried to convince of something else, the Government listened to all opinions and decided sovereignly, as provided by the institutions and the Law. Unfortunately or fortunately, that is where the discussion ends for the next two years," Antoniou concludes.
It is noted that, based on the decision of the Council of Ministers , and the Decree published in the Official Gazette of the Republic , the National Minimum Wage was set at €1,088 after six months of employment with the same employer and at €979 euros for the first six months of employment.
(Source: InBusinessNews)
