Cyprus State Employment Reaches 55,367 In March 2026, Up 0.1%

by THEFUTURE.TEAM

April 14, 2026

Key Figures Reflect Marginal Growth In The State Workforce

State employment in Cyprus reached 55,367 in March 2026, an increase of 42 employees compared with March 2025. The change corresponds to annual growth of 0.1%, according to Cystat. For January–March 2026, average employment increased by 0.2% compared with the same period in 2025.

Shifts In The Civil Service And Security Forces

Employment trends varied across sectors. Civil service staff declined by 0.8%, from 23,198 to 23,013 employees. Security forces recorded a 0.7% decrease, from 13,832 to 13,734. Education staff increased by 1.8%, rising from 18,295 to 18,620.

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Differentiated Trends In Employment Categories

By contract type, employees with indefinite contracts increased by 1.7% to 9,617. Permanent staff rose by 0.1% to 32,900. Employees on definite duration contracts declined by 2% to 6,318, while hourly paid staff decreased by 0.3% to 6,532.

Sector-Specific Contractual Adjustments

Civil service permanent staff decreased to 11,934. Indefinite contracts declined by 3.1% to 4,030, while definite duration contracts increased by 0.5% to 1,437. Hourly paid roles fell by 0.8% to 5,612. In the education sector, permanent staff remained at 12,446 with a slight decrease. Indefinite contracts increased by 24.9% to 1,184. Definite duration contracts rose by 2.1% to 4,843, while hourly paid staff increased by 5% to 147. Security forces recorded a 0.7% increase in permanent staff to 8,520 and a 1.3% rise in indefinite contracts to 4,403. Hourly paid roles increased by 2.7% to 773. Employees on definite duration contracts in the security forces declined by 85.9%, from 269 to 38, following contract expirations in July 2025.

Year-To-Date Trends And Terminology Update

For January–March, civil service employment declined by 0.9%, while education increased by 1.9%. Security forces recorded a 0.2% decrease. Permanent staff increased by 0.2%, and indefinite contracts rose by 1.6%. Definite duration contracts and hourly paid roles declined by 1.2% and 0.4%. Cystat replaced the term “government” with “state employees” starting from March 2026 without affecting historical comparability.

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Cyprus Banks Urged To Focus On Long-Term Resilience As Profits Remain Strong

by THEFUTURE.TEAM

June 26, 2026

The Cypriot banking sector remains in a strong position, supported by solid capital buffers and overall financial stability, according to speakers at the annual general meeting of the Association of Cyprus Banks. At the same time, government officials and regulators stressed that maintaining this position will require continued discipline and long-term planning.

A Strong Sector, But Not A Complacent One

Finance Minister Makis Keravnos used the meeting to highlight concerns over draft laws recently passed by parliament, which, according to the Ministry of Finance, the Central Bank and the Legal Service, may contain constitutional, legal and institutional issues. Those concerns, he noted, led to presidential referrals and remittals to the Supreme Court.

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Keravnos also said the European Central Bank had been consulted on proposed measures concerning the suspension of foreclosures and the restructuring of loans and guarantees, adding that the ECB had expressed its own concerns.

Profitability Should Reflect Real Economy Lending

While acknowledging that the banking sector remains highly profitable, Keravnos said earnings are expected to reach around €1 billion in 2025, lower than in 2024 as interest-rate conditions gradually normalize.

He said he would prefer bank profitability to rely more on lending to businesses operating in productive sectors and less on the widening of European Central Bank interest-rate spreads.

According to the minister, Cyprus’ return to investment-grade status after 11 years has strengthened the country’s appeal to foreign investors, technology companies and startups. He said this should encourage banks to offer financing that better supports businesses while improving the diversification of their loan portfolios.

The Central Bank’s Warning: Strength Today Is Not A Guarantee Tomorrow

Central Bank Governor Christodoulos Patsalides also warned against complacency, saying the sector’s current strength should not be taken for granted.

“The Cypriot banking sector is strong today. But strength that truly matters is not exhausted by a capital ratio, a profit line or a favorable cycle,” he said.

Patsalides added that lasting resilience depends on institutions remaining strong as conditions change, risks become more complex, and competition evolves. In his view, that requires sufficient capital buffers, adaptable infrastructure and management teams prepared for changing market conditions.

Long-Term Resilience Over Short-Term Gains

Patsalides also stressed that banks should focus on long-term resilience rather than short-term performance. Decisions on dividend policy, capital allocation and the use of resources, he said, should take into account continued investment in technology, operational resilience, human capital and long-term adaptability.

He added that banks able to remain competitive over time will be those that invest early in strengthening their capacity to adapt and respond to future challenges.

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