Cyprus state payroll on unsustainable path, warns Averof

Former Disy leader Averof Neophytou has argued that the Cypriot economy is currently being undermined by an unsustainable surge in the state payroll which could otherwise be used to fund 15,000 affordable homes.

In an extensive piece of analysis, Neophytou stated that the size and cost of the state machine have always been a “black spot” on public finances but the recent growth is unprecedented in the history of the Republic.

He pointed out that even in the years leading up...