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The crisis is behind us. Cyprus authorities increased their salaries

The crisis is behind us. Cyprus authorities increased their salaries

11 2018 June
Tags: Cyprus, President, Anastasiadis, Ministers, Salary, Economy, Crisis

Since 1 March 2018, - this day is the beginning of the second presidential term of Nikos Anastasiadis, - his monthly salary grew by 1215 euro. According to Politis, the salaries of the ministers who decided to stay in the head of state's team increased by 462 a month.

Recall that during the acute phase of the financial crisis in the spring of 2013, the President of the Republic of Cyprus Nikos Anastasiadis decided to reduce his salary by 25% in solidarity with investors who lost money as a result of "haircuts" in Laiki and the Bank of Cyprus. The cabinet ministers reduced their salaries by 20%.

What amounts are we talking about? Before the crisis, the ministers received for a year 70 000 euro salaries + 24 000 euro bonuses. In 2015, the annual salary of the president was 163 165 euro. Gradually the situation in the country was normalized, and the salaries of the head of state and members of the cabinet headed by him began to grow.

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