Insider Economy Ministry of Labour expenditure exceeds €1 billion due to support measures for...

Ministry of Labour expenditure exceeds €1 billion due to support measures for Covid-19

Cyprus’ Ministry of Labour’s expenditure exceeded €1 billion in the first seven months of 2020 on continued programmes aiming to support employment and businesses affected by the coronavirus pandemic.

According to data published by the government’s treasury, the Ministry’s expenditure for the period of January to July amounted to €1,005 million marking an increase of €407 million or 68% compared with the respective period of 2019.

The Ministry’s expenditure represented 25% of the total expenditure of the government’s budget, whereas the respective figure in 2019 was limited to 17%.

The Ministry’s spending throughout 2019 amounted to €1.07 billion.

In July the Ministry’s spending amounted to €191 million compared with €168 million in June and just €90 in July 2019.

The Ministry’s highest monthly expenditure was recorded in May with €238 million, when horizontal support measures were still in place.

The Ministry’s spending is estimated to continue their upward trend as Minister of Labour Zeta Emilianidou announced additional measures to protect jobs and to support businesses from the Covid-19 fallout amounting to €106 million.

As Emilianidou noted, the value of the support measures amounted to €457 million including a one-off grant to very small businesses, while spending for the support measures from August until November is estimated at €75 million.

According to Emilianidou, since support measures began in mid-March the Ministry has subsidised income for 180,000 employees until the end of May and of over 70,000 in the period of June to July.

(CNA)

Top Stories

318 new cases through PCR tests announced on Tuesday

The Health Ministry announced 318 new Coronavirus cases out of 3,233 PCR tests on Tuesday 1 December and another 153 out of 7,729 rapid...

Eight confirmed COVID-19 cases at Athalassa Psychiatric Hospital

Eight confirmed COVID-19 cases have been found at the Athalassa Psychiatric Hospital, five of which are residents and three staff. This became known when a...

Citizens’ Teleservice Center on COVID-19

The Deputy Ministry of Digital Policy announced the operation of the Citizens’ Teleservice Center on issues regarding COVID-19. According to the relevant announcement, the center...

Queen awards Sistema Cyprus volunteers

Her Majesty the Queen joined a video call this week with three winners of the Commonwealth Points of Light award, to celebrate their achievements...

Cypriot elected President of the European Association of Data Protection Professionals

Cypriot lawyer Maria Raphael has been elected as President of the European Association of Data Protection Professionals (EADPP), in the framework of the EADPP genaral assembly that took place...

Taste

Squash soup

Ingredients: 1 kg pumpkin, cut into small cubes, approximately 5 cups 2 medium (400g) sweet potatoes, cut into cubes, approximately 2 ½ cups 1 chopped leek, only...

Mezedes

No visit to Cyprus is complete without enjoying the traditional meal of many small dishes known as ‘meze’. This large feast, which has been a...

Prawns with fried cheese, barley shaped pasta

Put the barley shaped pasta into a small pan with salted water, bring to a boil and when tender, drain. Peal the prawns leaving...

Salmon and shrimp sheftalies

Mix all ingredients for tabbouli in a bowl and keep to one side so flavours can combine. Prepare the sheftalies: wash and soak the casing...