Day: August 31, 2022

The Republic of Cyprus will revoke seven passports that were granted through the Cyprus Investment Program, following a decision by the Cabinet, Minister of Interior, Nicos Nouris, announced on Wednesday.

Speaking after today’s meeting, Nouris said that the passports were granted to four investors and three of their family members. He explained that the Cabinet’s decision is based on the findings of the Inquiry Committee, the sanctions imposed by the EU and the current legislative framework.

Source: Cyprus News Agency

The Cabinet decided on Wednesday to set the National Minimum Wage at €940, as Minister of Labour and Social Insurance, Kyriacos Koushos announced, pointing out that it was a “historic day” for the welfare state.

According to the decision the National Minimum Wage is set at €940, while for the first six months of the employment it is set at €885.

The implementation of the National Minimum Wage starts from the first day of 2023, however according to Koushos there will be a transition period to allow the economy and employers to adapt to this change.

In his statements, Koushos said that 40 thousand low income citizens will substantially benefit from this development. “The wage increase in some cases may even reach 30%, while another 60 thousand citizens are being positively affected to a smaller extent,” he added.

Koushos noted that this is historic day for the Labour Ministry, labour relations, the welfare state, the social state envisioned by Cyprus President, Nicos Anastasiades.

“I believe that we managed to converge to a great extent the various positions and to form, though productive dialogue, a Decree on the basis of which the Lowest Minimum Wage is determined at 940 euros,” he added.

Koushos noted that the introduction of the minimum wage will naturally have some exceptions. These include professions related to shipping, domestic workers and also farming and livestock.

He clarified that “those who receive more favourable treatment through a customary contract or other decree are also excluded from the decree.” That is to say, he noted, “if an employer has better benefits than those provided for in the decree in no way are these benefits affected.”

Persons receiving training for a degree or professional qualification are also excluded. Where an employer provides food or accommodation, it will be possible by an agreement between the parties to deduct from the cash amount 15% for food and 10% for accommodation. The employee will be able with 45 days’ notice to waive this part of the agreement.

“I must say that there were significant differences between the employers’ side and the trade unions. Nevertheless, through discussions, we were able to reach a point of agreement. I thank them for their cooperation and the way they conducted the consultation,” he said.

Responding to questions, the Labour Minister said that the first adjustment of the Lowest Minimum Wage will take place on 1.1.2024 and from there on every two years on the basis of concrete criteria.

Koushos also stressed that the Labour Ministry and himself will not allow any diversion from the provisions of the Decree.

Source: Cyprus News Agency

Cyprus Ombudswoman, Commissioner for Administration and Protection of Human Rights Maria Stylianou Lottides, met on Wednesday with her counterpart, Slovenian Ombudsman Peter Svetina in Nicosia.

According to a press release by the Commissioner’s office, Svetina is paying Cyprus an official visit following an invitation of the Cypriot Ombudswoman. His visit, it says, confirms the excellent relations between the two institutions, a result of their close cooperation within the framework of the International Ombudsman Institute (IOI) and the Association of Mediterranean Ombudsmen (AOM).

In their meeting, Svetina and Lottides referred to various social issues, but mainly to the vulnerable groups of society that are often marginalised and apply to their Offices. In addition, they pointed out the importance of independence of national human rights institutions and their operation based on the Paris Principles.

Svetina supports Cyprus’ efforts to obtain “A” status accreditation under the Paris Principles, which regulate the status and operation of national human rights authorities, the press release added.

Source: Cyprus News Agency

Republic’s of Cyprus financial aid to the Turkish Cypriots increased by €1.4 million in 2021.

Minister of Finance Constantinos Petrides who briefed on Wednesday the Cabinet about the financial aid, said that in 2021 it amounted to €40.4 million and was increased by €1.4 million compared to 2020, when the financial assistance amounted to €39 million.

According to a Ministry of Finance’s press release, the financial aid for the support of the Turkish Cypriots in 2021 was granted by the Government mainly in the following sectors: €16.1 million for pensions, €6.1 million for the repair and maintenance of Turkish Cypriot mosques, monuments and properties, €1.6 million for the provision of drinking water, €1.5 million for the provision of Minimum Guaranteed Income, €1.3 million to cover expenses from the use of the NHS and €1.0 million to cover education costs.

It is noted that, during the last five years (2017-2021) financial assistance to the Turkish Cypriots amounted to €199.4 million.

Source: Cyprus News Agency

Cyprus and Spain Ministers of Health Michalis Hadjipantela and Carolina Darias met Wednesday in Nicosia and discussed issues related to a bilateral cooperation in organ transplantation and the set up of a committee to oversee these matters.

The two Ministers also visited Famagusta General Hospital which operates as a Covid reference hospital and exchanged views on how both countries manage the pandemic.

The official visit of Spain’s Minister of Health follows the signing of a Memorandum of Understanding between the two countries, in December, 2021.

The Ministers also discussed issues related to cooperation in the field of innovative and expensive medicines with the aim to soon include them in the national health schemes through a joint offer, which will ensure timely access with a reduced financial burden.

Hadjipantela explained in his statements that the purchase process will be done under the umbrella of the European Union. He said that it was agreed to send medical personnel to Spain, for training in the field of transplants and e-health. He added that Spain is a pioneer in the field of transplants.

Speaking through an interpreter, the Spanish Minister said that the two countries will continue their cooperation so as to share knowledge and expertise, with the aim of saving lives.

She said that Spain has a lot of experience in transplants and is a reference country in this field. She added that this model can be made available to Cyprus in order to get assistance with the best possible results.

Source: Cyprus News Agency

The fiscal accounts of the general government generated a surplus of €141.8 million for the period of January – July 2022 marking a sizeable improvement compared to a deficit of €7,111 million in the respective period of last year, according to preliminary data released by the Cyprus Statistical Service (Cystat).

As a percentage of GDP, the general government’s surplus in January – July 2022 amounted to 0.6% of GDP compared with a deficit of 3% in the corresponding period of 2021. The improvement is attributed in the significant rise in public revenue coupled with a marginal increase in spending.

Expenditure up by 0.2%

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Total expenditure in the seven months of 2022 increased by €9.5 mn (+0,2%) to €5,753.3 mn, compared to €5,743.8 mn in the corresponding period of 2021.

Among other areas, social benefits increased by €226.4 mn (+10.6%) and amounted to €2,352.7 mn, compared to €2,126.3 mn in 2021. Compensation of employees (including imputed social contributions and pensions of civil servants) increased by €72.2 mn (+4,5%) to €1,690,8 mn.

Intermediate consumption increased by €86.6 mn (+16.9%) and amounted to €597.4 mn, compared to €510.8 mn in 2021, while current transfers were up by €32.2 mn (+9.3%) and amounted to €380.2 mn, Cystat said.

Subsidies decreased by €460.9 mn to €44.1 mn, from €505.0 mn in 2021, while interest payable decreased by €26.3 mn (-8.4%) to €285.7 mn, from €312.0 mn in 2021.

Revenue up by 17%

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During the period of January-July 2022, total revenue increased by €862.3 mn (+17.1%) and amounted to €5,895.1 mn, compared to €5,032.8 mn in the corresponding period 2021.

According to Cystat, taxes on production and imports increased by €342.2 mn (+18.3%) to €2,212.3 mn, of which net VAT revenue increased by €267.7 mn (+22.6%) and amounted to €1,454.4 mn.

Revenue from taxes on income and wealth increased by €242.9 mn (+22.0%) and amounted to €1,344.9 mn, social contributions increased by €236.9 mn (+16.1%) and amounted to €1,707 mn,.

Revenue from the sale of goods and services rose by €47.0 mn (+14.3%) and amounted to €374.8 mn, while property income increased by €37.9 mn (+58.8%) and amounted to €102.4 mn.

According to Cystat, capital transfers decreased by €30.1 mn (-41.7%) to €42.1 mn, from €72.2 mn in 2021. Current transfers decreased by €14.4 mn (-11.4%) to €111.6 mn, from €126.0 mn in 2021.

Source: Cyprus News Agency

The role of science as a peace-building means was highlighted in a bi-communal STEAM camp, which was organised this summer and was funded by the US Embassy in Cyprus. The STEAM for Peace and Entrepreneurship Camp Attendance Certificate Ceremony took place on Wednesday, at the Home for Cooperation, in Nicosia.

The event started with opening remarks by the camp organisers, Dr. Myrtani Pieri, Dr. Simge Davoglu and Menelaos Menelaou, who spoke of an ‘unforgettable time’ in the camp with ‘100 amazing students from all over Cyprus’. The three organisers expressed their satisfaction with the response of the Cypriot youth and their families towards the STEAM activities adding that they have been able to look at peace-building from a different perspective by utilising the universal language of science.

They also thanked participating associations and universities for their support and expressed their gratitude to the Alumni Exchange Innovation Fund and the US Embassy to Cyprus for funding the STEAM for Peace and Entrepreneurship project. They concluded by expressing their hope to be able to develop projects that provide more science activities for young students in Cyprus in the future.

Judith Garber, US Ambassador to Cyprus, expressed her excitement at the STEAM camp, which “seems to be a wonderful experience.” She also said that science is a universal language, brings people together and promotes understanding, adding that the essence of the scientific method is taking risks. “By facing challenges together, we hope to form bonds that will last a lifetime. We hope to be part of what helps to reunify this beautiful island,” she added.

“Each of the organisers is a testament to what can happen when you bring bright young people together to take part in exchange programmes, to exchange fresh ideas and bring them back to their countries and look to make where they live a better place for all of us,” Garber pointed out.

During the event a video from the activities of the camp was shown, followed by the certificate ceremony.

STEAM for Peace and Entrepreneurship Camp is designed for middle school/gymnasium students of age 10-13 years old to have fun during the summer holidays while doing hands-on experiments in STEAM subjects together in a group of bi-communal students from all over Cyprus. The camp is designed with the theme of peace to introduce friendship, collaboration and peace-building.

Source: Cyprus News Agency