Our View: Rising wages mask public sector inefficiencies

Nobody should have been surprised to be listening to Labour Minister Yiannis Panayiotou taking credit for the 13 per cent increase in the average salary in the last two years. It was now close to €2,500 per month, while the median salary had increased by 11.5 per cent approaching €1,900.    

The minister’s comments followed the release of the latest Eurostat figures for the first quarter of 2025, during which Cyprus recorded a 4.8 per cent rise in the hourly labour cost compared to the corresponding period of last year.