Cyprus Business Now

Employment in the broader public sector witnessed a notable annual increase in Q4 of 2023, rising by 2,765 people, or 3.8 per cent, compared to the corresponding quarter of 2022.

According to Cystat, the total number of employees in the broader public sector during Q4 of 2023 reached 75,361.

In the General Government, employment amounted to 69,552 people, while in Companies and Enterprises controlled by the Government, the figure stood at 5,809.

Within the General Government sector, which encompasses the Government, Non-Profit Organizations (NGOs), and Local Authorities, employment figures were distributed as follows: 54,168 for the Government, 10,855 for NGOs, and 4,529 for Local Authorities.

Furthermore, when compared to the corresponding quarter of 2022, the Broad Public Sector saw an increase in employment of 2,765 people (3.8 per cent). Breaking this down, employment in the Central Government surged by 2,628 people (4.2 per cent), in Local Authorities by 101 people (2.3 per cent), and in Companies and Enterprises Controlled by the Government by a modest 36 people (0.6 per cent).

Moreover, employment in Non-Profit Organizations (NGOs) demonstrated a significant increase of 22.0%. This surge can be attributed to the transfer of Hourly Staff from the Ministry of Health (Government) to the State Health Services Organization (NGO), starting from January 2023.

Additionally, compared to the 3rd quarter of 2023, employment in the Broad Public Sector experienced an upswing by 3,054 people (4.2 per cent). This increase is primarily due to the expansion in the staff of the Education Service (Government), which mainly resulted from the abolition of the service purchase regime in the supporting programs of the Ministry of Education, Sports, and Youth from the school year 2023 – 2024.

Lastly, it’s worth noting that in Local Authorities and Government-Controlled Companies and Enterprises, employment levels remained very close to those observed in Q3 of 2023, as reported by Cystat.

In 2021, the total expenditure on activities and actions related to environmental protection in industry amounted to €36.9 million, which corresponded to 0.15 per cent of the Gross Domestic Product. This figure represents a slight increase from the €33.6 million, or 0.15 per cent, recorded in 2020, according to the results of a survey carried out by the Cyprus Statistical Service (Cystat).

Breaking down the expenditures by sector of activity, the manufacturing industries recorded the highest expenditures, with €32.2m. Following closely, mines and quarries, along with electricity supply, accounted for €4.4m, and water treatment and supply companies contributed a smaller portion, at €0.2m.

Focusing on the manufacturing sector, it is noteworthy that the production sector of other non-metallic mineral products made significant expenditures for environmental protection purposes, amounting to €13.1m.

Similarly, the food industry invested €11.5m, while the pharmaceutical products and preparations industry and the chemicals and products manufacturing industry allocated €1.6m and €1.5m, respectively.

In terms of the environmental fields targeted by these investments, €15.3m was dedicated to reducing air pollution, underscoring the industry’s commitment to cleaner air.

Additionally, €12.6m was allocated to solid waste management, demonstrating a focus on sustainable waste handling practices.

Wastewater management received €6.9m, highlighting the importance of protecting water resources. Lastly, €2.2m was directed towards other actions, such as the prevention or reduction of noise and vibration, the protection of soil and groundwater resources, and the conservation of natural resources and biodiversity, showcasing a comprehensive approach to environmental protection across various fronts.

During the stock market meeting on Tuesday, the Cyprus Stock Exchange (CSE) registered new losses. Specifically, the General Index of the CSE closed at 145.26 points, marking a decrease of 0.59 per cent. Similarly, the FTSE/CySE 20 Index concluded the day at 88.21 points, reflecting losses of 0.62 per cent.

Focusing on individual shares, Demetra Holdings experienced a notable decline, closing at €0.86 with a drop of 2.27 per cent and a trading volume of €559.6 thousand.

In contrast, Logicom ended the day at €3, down by 0.66 per cent, with a volume of €73.8 thousand. Meanwhile, the Bank of Cyprus share remained stable, closing at €3.59 with an unchanged value and a volume of €41.5 thousand.

Similarly, Hellenic also maintained its value, closing unchanged at €2.48.

In terms of corporate developments, there was an important announcement regarding the introduction of S.S.H.’s green bonds by Solar Finance Plc on the NEW Market of the CSE, marking a significant step towards sustainable finance.

Conclusively, the daily volume of transactions on the CSE amounted to €763.4 thousand, indicating active participation from investors despite the overall market downturn.