The position of the Cyprus Chamber of Commerce and Industry (CCCI) to suspend the decision on the National Minimum Wage (NMW) for 2022, while calling on the Minister of Labour Zeta Aimylianidou to proceed with the announcement of the National Minimum Wage, stating that "the road to the implementation of the National Minimum Wage (NMW) is one way and one way of no return".
At the same time, the FEC also rejects the issue of not granting the Automatic Price Adjustment (ATA), while on the request for new staff leaves from third countries, it says that this "is inappropriate at the present time".
"Anyone who studies with enough attention the content of the CEC's recommendations to the President of the Republic for dealing with the consequences of the war in Ukraine will realise that Cyprus needs another budget to satisfy them, so the government and especially the Finance Ministry must be particularly careful about what kind of requests it satisfies and what cost they will have on public funds," the CEC said in a statement.
It adds that "between the Labour Minister and the social partners participating in the Labour Advisory Council (LAC) enough work has been done andno backtracking can be justified."
In addition, the FCC calls on the government as a whole to pursue a deflationary policy that includes the full reinstatement of the ATA to effectively restore the market value of wages from the erosion of inflation, a campaign at all levels to save energy in the public, semi-public and private sectors, a cap on fuel and on the profitability of Oil Companies and intensified market controls to prevent instances of price gouging and obscenity.
Finally, the FCC states that the issue should be the subject of a meeting at the Presidential Palace under the President of the Republic, the competent ministers and the social partners participating in the Consultative Economic Committee (CEC).
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