Cyprus state payroll set to rise €153 mln

[File photo]

Cyprus’ state payroll is acceptable to ascent again successful 2026, with authorities spending connected unit projected to emergence by 153 cardinal euros contempt efforts to rein successful hiring.

Finance Ministry figures amusement payroll costs are budgeted astatine €3.77 cardinal adjacent year, up from an estimated €3.62 cardinal successful 2025. That continues a steady ascent from €3.55 cardinal successful 2024. Expenditure is forecast to support growing, hitting €3.90 cardinal successful 2027 and €4 cardinal successful 2028.

Finance Minister Makis Keravnos said the authorities has built the draught fund to withstand imaginable adjustments from cost-of-living allowance negotiations without upsetting fiscal stability. He added the ministry has tally “dozens of scenarios” to hole for antithetic outcomes. “Containing payroll costs remains a changeless concern,” Keravnos told reporters aft the furniture approved the 2026 budget.

While spending is increasing, the authorities emphasized that the nationalist assemblage headcount is gradually shrinking. The fund provides for the instauration of 458 positions, including 60 occurrence work posts, while abolishing 472, a nett chopped for the 2nd year successful a row. Employment successful the wider nationalist work has dropped by astir 2,000 workers since 2012.