President Christodoulides meets with OEB leadership to discuss economic reforms

President Nikos Christodoulides met with the Executive Committee of the Cyprus Employers and Industrialists Federation (OEB) on August 31, 2026, to discuss the government's ongoing reform agenda and economic progress. During the meeting, the President emphasized the government's commitment to modernizing the state through tax and pension reforms, noting that tax reductions have already increased disposable income for households and businesses. He cited current economic indicators showing record-high employment levels and a notable reduction in unemployment, which he stated is now at levels comparable to 2008. Additionally, the President projected a growth rate of 3.5% for the Cypriot economy in 2026.

OEB President Giorgos Pantelides characterized the discussion as constructive, noting that the organization raised concerns regarding labor shortages, rising energy costs, and the bureaucracy affecting the private sector. A key point of contention remains the pension reform, specifically the potential mandatory implementation of a second pillar of provident funds, which OEB opposes. Both parties agreed to maintain an open channel of communication to continue the national dialogue on these structural challenges. The government is expected to announce further interventions in the near future aimed at sustaining economic growth and improving social welfare.