The Minister of Finance has issued a written statement in response to the reactions of the trade unions SEK and PEO regarding his statements on the issue of productivity and competitiveness in the Cypriot economy.
“As the Minister of Finance, I support the institution of the cost-of-living allowance (CoLA), and the specific trade unions, which expressed their opposition to the interpretation of my statements, should be well aware, as stated, that ‘during an event organized by the unions on the subject of the CoLA institution, before my appointment as minister, where they honored me by having me as the main speaker, the positions and views I presented in my speech were clearly in favor of the CoLA institution.’”
He also emphasizes categorically that, as the Minister of Finance, he does not align himself with any side in the negotiation process for the implementation and operation of the institution, only with the interests of the Cypriot people, which are safeguarded only within the framework of a healthy and competitive economy.
Continuing, he states, “As the Minister of Finance, I am responsible for maintaining the resilience and healthy condition of the economy. Considering the key indicators of the Cypriot economy, my intention is to encourage social partners, whose mission and intentions for securing the interests of workers I fully appreciate, so that, among other parameters, productivity and competitiveness of the economy are weighed, as well as the necessity of continuous improvement of income distribution.”