Nicosia: Government officials and trade union representatives marked Labour Day with a series of statements and events held across Cyprus. The focus of the day was on reaffirming the government's commitment to supporting workers and pensioners through various policy initiatives.
According to Cyprus News Agency, President of the Republic Nikos Christodoulides emphasized in a written statement the government's dedication to fostering social cohesion and maintaining a stable social protection system. Since taking office, the government has increased the minimum wage, aiming for a rise from £940 in 2023 to £1,088 in 2026, reflecting a 13.6% increase. This move is part of a broader tax reform intended to raise disposable income for approximately 200,000 workers, effective from January 1, 2026.
The President also highlighted a cumulative 10% increase in the base portion of pensions during the 2023-2025 period. This, combined with responsible fiscal policy and strong economic growth, has led to successive increases in median gross monthly earnings for employees by 5% in 2024 and 4.6% in 2025, as reported by the Statistical Service.
Labour Minister Marinos Mousiouttas reiterated the government's alignment with the European agenda for the future of work. During an event organized by SEK in Nicosia, he emphasized efforts to better regulate labour relations, strengthen collective bargaining, and ensure adequate wages. Mousiouttas described pension reform as a top priority for 2026, with social dialogue already underway and relevant bills expected to be submitted to Parliament by June 2026. The new pension system is slated for implementation on January 1, 2027.
In the afternoon, trade unions from both communities, including PEO and Turkish Cypriot unions, planned a joint event at Eleftheria Square. The event featured speeches, a march ending at the buffer zone, and a cultural program. Labour Day celebrations commenced on Thursday with an event organized by DEOK.