The Minister of Economy and Finance Kyriakos Pierrakakis made a statement on the increase of the minimum wage from today, noting that the measures activated today are not the end, but the beginning of a lasting support.
The Minister’s statement reads as follows:
“As of today, the increase in the minimum wage in both the private and public sectors, reaching €920, comes into effect, directly boosting workers’ income and supporting their purchasing power at a time of increased pressure.
A new set of support measures is being activated to deal with the consequences of the energy crisis and rising prices. A horizontal fuel subsidy of 20 cents on diesel fuel is introduced. Also, in a few days the Fuel Pass, equivalent to 36 cents per litre, will be available to 3 out of 4 vehicle owners. There are also plans for a 15% refund on the value of fertiliser to support the primary sector, as well as compensation for ferry companies to curb ticket prices and protect islanders and people’s travel.
This is not the end of intervention, but the beginning of sustained support.
We will continue to intervene for as long as necessary, responsibly and with the aim of boosting citizens’ incomes, keeping the country stable and maintaining the cohesion of society.”
