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An In-Depth Analysis Of Public Sector Salary Scales In 2026

Introduction

The General Accounting Office of the Republic has publicly released detailed salary breakdowns for all state officials, effective from January 1, 2026. This measure is part of an ongoing drive to strengthen transparency and accountability in public administration.

Clear Overview Of Total And Net Earnings

According to the official announcement, the periodic disclosure allows citizens a clear view of total monthly earnings (including allowances) and the net amounts received after statutory deductions and taxes calculated under the revised 2026 tax scales.

Executives At The Pinnacle Of The Salary Pyramid

The apex of the salary structure is occupied by the President of the Republic, who receives a gross monthly salary of €14,401 and a net payment of €9,145. Following closely are the General Prosecutor, the Deputy General Prosecutor, and the President along with the members of the Supreme Court, with gross earnings of €13,531 and net pay of €9,207.

Compensation Within The Judicial And Legislative Sectors

Next in the hierarchy, the President and judges of the Court of Appeal command gross payments of €12,173 with net amounts reaching €8,331. In the legislature, the Speaker of the House is compensated with gross earnings of €11,456 and net take-home pay of €7,461. Similarly, other senior posts such as the Speaker of the Executive Council and the President of the Supreme Council of the State exhibit comparable scales. At the provincial level, judicial officers including those at the District, Administrative, Nautical, and Commercial Courts earn gross sums of €10,712 and net figures of €7,456.

Senior Public Officials And Executive Appointments

Ministers, Deputy Ministers, and the Government’s Representative receive gross salaries of €9,343 accompanied by net payments of €6,078. Equally matched by their peers in senior administrative roles are the General Director of the President’s Office, the Commissioner for Transparency (netting €6,385), the Commissioner for Legislation, and the Commissioner for the Protection of Children’s Rights. Other essential roles such as the Department Manager and the Tax Inspector are remunerated with gross salaries of €8,996 and net amounts of €6,145, while the Data Protection Commissioner earns €8,921 gross with €6,214 net.

Members Of Parliament And Other Public Office Holders

Members of Parliament or Religious Representatives receive gross monthly earnings of €7,911 and net take-home salaries of €5,466. Other roles, including those holding positions on various presidential, environmental, and citizens’ committees, as well as the Cooperative Service Inspector, enjoy similar scales with gross earnings of approximately €7,866 and net amounts of €5,386. The lower tiers of the salary scale feature positions such as the Deputy Governmental Representative, whose earnings are €5,288 gross and €3,787 net, members of various committees (netting between €3,722 and €4,318), and the Press Office Director of the President’s Office, with compensation at €4,420 gross and €3,267 net.

Methodology Behind Net Amount Calculation

The General Accounting Office clarifies that the net amounts are derived solely from statutory deductions and the new 2026 tax scales. Additional deductions, exemptions, or other income sources, which might alter the final net amount, are not incorporated in these calculations. Detailed and updated information is published semiannually on the official General Accounting Office website under the “Salary Services / Salaries” section.

Salary Structure Table 1
Figure 1: Salary Structure Overview
Salary Table 2
Figure 2: Comparative Analysis of Gross and Net Earnings
Salary Table 3
Figure 3: Detailed Breakdown by Position

Download the complete salary disclosure file for state officials: State Official Salary Details (01/01/2026)

Conclusion

This comprehensive disclosure not only reinforces public sector transparency but also allows for a meticulous review of government spending on personnel. By providing clear data on the compensation scales across different branches of government, the initiative underlines an essential aspect of accountability in public administration.

Bank of Cyprus Upgrade Signals Fresh Optimism For Greek And Cypriot Banks

Regional Banks Enter A More Favorable Cycle

Bank of Cyprus and Eurobank are well positioned to benefit from a renewed re-rating of Greek and Cypriot bank stocks, according to Cyprus-based investment firm Roemer Capital, which upgraded Bank of Cyprus to a buy rating and reaffirmed its positive view on Eurobank.

The firm cited easing geopolitical tensions, resilient economic growth in Greece and Cyprus, lower funding costs and Greece’s expected transition to developed-market status as the main factors supporting the sector.

Roemer Capital also lowered its cost of equity assumptions, updated its forecasts following first-quarter 2026 results and extended its valuation horizon to the end of 2027, raising target prices across its banking coverage.

Bank Of Cyprus Gets The Largest Upgrade

Bank of Cyprus received the biggest revision, with Roemer Capital upgrading the stock from hold to buy and setting a target price of €11.10, implying potential total upside of 27%.

The firm highlighted the bank’s strong capital generation, profitability and projected 100% dividend payout, describing it as the strongest capital-return story among the banks under coverage. Roemer Capital maintained its buy rating on Eurobank, assigning a target price of €4.90 and forecasting potential upside of 28%. The report said the bank is well placed to benefit from loan growth, improving operating performance and merger-and-acquisition synergies.

National Bank of Greece and Piraeus Bank also retained buy ratings, with expected returns ranging from 25% to 36%. Optima Bank was upgraded to buy, while Alpha Bank remained at hold on valuation grounds.

Why Growth Still Sets The Region Apart

According to Roemer Capital, Greek and Cypriot banks continue to benefit from stronger economic fundamentals than many western European peers. The report pointed to faster economic growth, healthier balance sheets, low levels of non-performing exposures, capital ratios approaching 20% and strong customer deposit bases.

Analysts expect performing loans across the sector to grow at a compound annual rate of 6% to 8% through 2028, supported by private investment, digitalisation, green manufacturing, supply-chain expansion and a gradual recovery in household lending.

The report also said the conclusion of lending under the EU Recovery and Resilience Facility is unlikely to materially affect credit growth, as banks have already shifted back towards traditional commercial lending. Roemer Capital expects Euribor to remain between 2.2% and 2.5%, a level it believes should support both lending activity and net interest margins.

Geopolitics, Valuation And Market Structure Support The Case

The report said improving geopolitical conditions have strengthened the investment outlook, noting that Brent crude prices have largely returned to pre-war levels while Greek government bond yields have stabilised at around 3.5%. Although geopolitical risks remain, Roemer Capital believes the likelihood of a major inflationary shock or significant pressure on bank profitability has eased.

Another important catalyst identified by the firm is Greece’s expected promotion to developed-market status by FTSE Russell, STOXX and MSCI over the coming months.

According to the report, the reclassification should improve liquidity and attract a broader base of international investors. Roemer Capital also said Euronext’s acquisition of the Athens Exchange is expected to strengthen market infrastructure and increase international visibility, particularly for Bank of Cyprus and Optima Bank.

The firm noted that Bank of Cyprus has already benefited from its Athens listing, with average daily trading value increasing from less than €400,000 before its September 2024 move to nearly €6 million afterwards.

Economic Momentum Remains A Core Tailwind

Roemer Capital said both Greece and Cyprus have moved beyond post-crisis recovery and are now supported by private-sector-led growth. For Cyprus, the report highlighted recent tax reform and efforts to simplify the legal and regulatory framework, while also noting that limited foreign banking competition continues to support domestic lenders.

Overall, Roemer Capital expects Greek and Cypriot banks to remain well-positioned for profitable loan growth over the coming years.

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