Key issues of the economy were the focus of a meeting between OEB – Troika

Key issues of the economy were the focus of a meeting held on March 29th 2017 between a delegation of the Cyprus Employers and Industrialists Federation (OEB) consisting of the Director of Labour Relations & Social Policy Ms Lena Panayiotou and the Business Development & Economic Affairs Officer Mr. Michael Gregoriou, and representatives of the European Commission, the International Monetary Fund and European Central Bank.

During the meeting the following topics were discussed:

• Economic developments and how they shape the business environment and affect the economic outlook. Particularly, the positive growth, the continued reduction of unemployment and the recovery of the tourism industry were noted with satisfaction.

• Once again, the rejection of the proposed laws on the reform of the public service was stressed with great concern and disappointment, with OEB emphasizing the need for immediate reconsideration by Parliament.

• The Troika representatives requested from OEB information and details on the state of play in relation to salaries, collective bargaining and the renewal of collective agreements in key sectors of the economy. Special reference was made to the issue of COLA (ATA) and the ongoing dialogue under the auspices of the Minister of Labour, with OEB analyzing the declared positions on the matter.

• Finally, the two sides spent sufficient time discussing the developments around the National Health System (Gesy), with OEB representatives emphasizing the importance of adopting a multi-insurance system and the equal distribution of contributions between employers and employees.

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