ECONOMY

State saves €20 million a year on new hires’ starting pay

Panayiotis Rougalas

The state saves €20.1 million annually by reducing entry-level pay scales for new civil service hires by 10%. The Finance Ministry has no intention of abolishing or revising the measure, which applies for 24 months.

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Cyprus’ defense tech industry grows, but can it turn innovation into business?

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