Cyprus Business Now

Employment in the government decreased by 2 per cent in June, mainly driven by the transfer of hourly-paid personnel from the Ministry of Health to the State Health Services Organisation (OKYPY), which is part of the Public Sector, starting from January 2023.

According to a report released this week by the statistical service, in absolute numbers, government employment decreased by 1,050 individuals compared to the same month in 2022, reaching a total of 52,424 people.

Permanent personnel saw a reduction of 735 individuals or 2.8 per cent, from 25,950 to 25,215 individuals.

On the other hand, temporary personnel experienced an increase of 1,420 individuals or 7.5 per cent, reaching 20,400 compared to 18,980 individuals in the same month of 2022.

According to the report, a decrease was observed in all categories of permanent personnel, while an increase was observed in all categories of temporary personnel.

The largest changes occur in the permanent personnel of the Public and Educational Service (decrease of -2.9 per cent) and in the temporary personnel of the Educational Service (increase of 9.1 per cent).

What is more, hourly-paid personnel experienced a decrease of 20.3 per cent.

Finally, when compared to May 2023, employment in the government increased by 0.4 per cent, with the highest increase being observed in the temporary personnel of the Security Forces (1.3 per cent).

The Office of State Aid Control has announced that the total budget for the “RESTART 2016-2020 Programmes for Research, Technological Development, and Innovation” of the Research and Innovation Foundation amounts to €238,155.

This figure represents the cumulative budget increase since 2016, according to an official statement from the Press and Information Office.

The decision, issued on July 4, 2023, by Stella Michaelidou, the Commissioner of State Aid Control, was made under the powers granted by Articles 10 of the State Aid Control Laws 2001 to 2020, concerning the Evaluation of State Aid Measures.

The total budget allocation for the programme is €238,155,000, reflecting the accumulated increase over the period from 2016 to the present, as stated.

Moreover, the decision highlights that the legal basis for the programme, based on the aforementioned decision, is the General Block Exemption Regulation (GBER) (EU) No 651/2014.

The evaluation of the decision was carried out in accordance with the provisions of the GBER, considering the scope of the application, disclosure limits, transparency, incentive character, intensity of aid, eligible costs, and accumulation.

Finally, it should be noted that the Research and Innovation Foundation serves as the responsible authority for the implementation and execution of the programme.

The Cyprus Stock Exchange (CSE) ended Wednesday, July 12 with profits.

The general Cyprus Stock Market Index was at 116.01 points at 13:20 during the day, reflecting an increase of 0.03 per cent over the previous day of trading.

The FTSE / CySE 20 Index was at 70.15 points, representing a rise of 0.03 per cent.

The total value of transactions came up to €465,610.

In terms of the sub-indexes, the alternative index rose by 0.17 per cent, while the main index fell by 0.06 per cent. The hotel and investment firm index remained unchanged.

The biggest investment interest was attracted by the Bank of Cyprus (-0.35 per cent), the Cyprus Cement Company (no change), Petrolina (+2.68 per cent), and Hellenic Bank (+0.53 per cent).