The Cabinet of Ministers of the Republic of Cyprus is going to spend millions of euros 6,7 on youth employment. 800 unemployed aged 25 to 29 years will have the opportunity to work for a year and receive a guaranteed salary. The project, of course, is good. It remains to obtain money on it by the EU.
According to the concept proposed by the Ministry of Labor and Social Security, for 10 months, the employer will pay 30% of the size of the agreed salary out of their money. The rest of 70% it will receive from the government.
The maximum amount that the Cypriot authorities will give the employer over 10 months, will be 8400 euros. Two months after the end of the scheme the employer will be obliged to pay the salaries of its own budget.
Date of submission of applications from employers to 70-interest portion of the salary has not yet been made public. It is not clear, and when the project starts. Money for its implementation Ministry of Labor of the Republic of Cyprus intends to obtain from the European Social Fund.