Averof Neofytou: Money Exists, But It's Lost in the State Payroll

Averof Neofytou intervenes regarding the increasing cost of the state payroll in Cyprus, proposing to limit the increase to the rate of economic growth.

In his article, A. Neofytou refers to the increase in the state payroll from €3.169 billion in 2022 to €3.878 billion in 2024, and the projected increase to €4.898 billion in 2028. He describes the situation as unsustainable.

He proposes a legislative regulation so that the increase in the payroll does not exceed the rate of economic growth. He argues that in this way resources could be saved for social policies, such as housing. He estimates that 15,000 affordable homes could be built between 2026 and 2028.

In addition, he proposes supporting families with a lump sum for each child born and financially supporting Cypriot students who complete their studies.

He emphasizes the need for digitization and simplification of procedures in the public sector, as well as cooperation with the private sector.