The Ministry council decided today to release the University, Local Authority (municipality) and Government deposits from the haircut! They also decided to decrease the ministers salaries by 20% including the 13th salary. The president Mr Nicos Anastasiades also authorized the government accountant to decrease his salary by 25%.
Minister of labor Mr Charis Georgiades spoke on a local radio this morning and when asked about the salary payments of government employees and teachers he replied positively… “The payments will be executed as soon as the banks open. ” If all things remain the same, banks will open tomorrow 28/3/2013.
According to the Cyprus Statistical Service, employees of the Cypriot Public Sector earn 30% more than their private sector counterparts.
Minimum salary is expected to increase by 2.5% this year which aims to keep the minimum at least 50% of the average wage.