Unions met with ministers on the cost-of-living allowance

President Nikos Christodoulides stated that a positive outcome of the unions' meeting with the ministers of labor and finance regarding the cost-of-living allowance (CoLA) is possible. The statement was made in Paphos on Thursday.

He noted that the framework proposed by the two ministers and discussed with both sides represents a good basis for reaching an agreement quickly. According to him, the partners on both sides have demonstrated their responsibility in Cyprus, and the dialogue can lead to positive results.

The ministers of labor and finance are holding separate meetings with representatives of the unions and employers’ organizations in an attempt to reach a mutually acceptable agreement.

Public and private sector unions held a three-hour strike on September 11, demanding that employers return to full CoLA payments; employers rejected this demand.

Labor Minister Yiannis Panayiotou proposed a CoLA payment for all employees on a sliding scale depending on the salary level.

During his participation at the Hotrec conference in Paphos, the president also emphasized the importance of tourism for the economy and society, noting that 2024 was a record year, and 2025 looks even better.