This morning, Minister of Labour, Yiannis Panayiotou, outlined the fundamental policy priorities of the Ministry and presented its budget for 2024.
In this context, he addressed the reform of the pension system, emphasizing a focus on the second pillar of the pension system – provident funds – and the implementation of a comprehensive employment policy.
Regarding the latter, he stated that the goal includes expediting processes to meet market needs, especially in light of the current challenges enforced in employing asylum seekers. He noted that the priority is to boost the employment of the local workforce.
Discussing pension reform, he mentioned that completion of studies is expected by the new year, aiming for necessary dialogue and agreement by 2025.
The Minister highlighted better regulation of employment terms and conditions among the ministry’s priorities, along with the development of an action plan for the expansion of collective agreements.
Responding to questions, the Minister addressed the issue of store operating hours, which will be discussed tomorrow by the Labour Committee. He emphasized that the government does not favour a change in the existing regulations.
The budget for the Ministry of Labour for 2024, according to the Minister, amounts to €800 million, presenting an increase of €176 million compared to the 2023 budget.