Cyprus Cuts Youth Unemployment To 13.8%, But The EU Gap Persists

by THEFUTURE.TEAM

February 19, 2025

Cyprus is making headway in tackling youth unemployment, with the share of young people not in work, education, or training (NEETs) dropping to 13.8% in 2023. Yet, the country still trails behind the EU average, highlighting the need for sustained efforts.

A Targeted Push To Get Young People Back On Track

The Employment Counseling Unit Services for NEETs project, launched in January 2024, has already assisted 400 young people, providing 717 counseling sessions. The initiative aims to register at least 1,200 NEETs, offering personalized support such as CV writing, interview coaching, and job placements.

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Labour Minister Yiannis Panayiotou underscored the government’s goal of achieving full employment by 2025, calling job creation a top priority.

A Stronger Job Market And Rising Wages

Beyond youth employment, Cyprus sees broader labour market gains. Unemployment has dropped to 5%, employment rates are nearing 80%—the highest in 15 years—and wages are steadily climbing. Key collective agreements, extended until 2027, signal long-term stability.

The Road To Full Employment

The government is doubling down on its commitment to closing the NEET gap, ensuring young people gain the skills and opportunities needed to thrive. While Cyprus is moving in the right direction, bridging the gap with the EU remains a challenge.

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Lithuania And Cyprus Forge Enhanced Partnership In Tourism And Defence

by THEFUTURE.TEAM

May 22, 2026

Expanding Cooperation Beyond The Surface

Kristupas Vaitiekūnas highlighted opportunities for closer cooperation between Lithuania and Cyprus during his visit to Nicosia for the informal ECOFIN meeting. Speaking to the Cyprus News Agency, the Lithuanian finance minister said both countries share common challenges and could expand collaboration in areas including tourism, defence and financial services.

Addressing Shared Challenges

Finance Minister Kristupas Vaitiekūnas said Lithuania and Cyprus face similar security and economic pressures despite their geographic differences. Particular attention was given to emerging security threats, including drone-related risks, alongside the importance of maintaining resilient financial sectors. According to Vaitiekūnas, stronger coordination in those areas could deliver long-term economic and strategic benefits for both countries.

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Focus On Fiscal Stability And Energy Security

Discussions at the ECOFIN meeting are expected to focus on Europe’s economic outlook, energy market volatility and fiscal stability. Kristupas Vaitiekūnas warned that instability in the Middle East could continue affecting oil markets and broader economic performance across Europe. Housing affordability was also identified as a growing challenge, with rising property prices in cities such as Vilnius reflecting broader pressures seen across European markets.

Coordinated Energy Strategy And Future Investments

The Lithuanian finance minister also called for a more coordinated European approach to energy and economic resilience. Vaitiekūnas suggested that targeted and temporary policy measures could prove more effective than large-scale structural reforms in addressing short-term pressures. Lithuania continues to increase investment in renewable energy generation and storage infrastructure as part of efforts to strengthen energy independence and begin producing surplus electricity by 2028.

Support For Ukraine And Enhancing Defence Funding

Finance Minister Kristupas Vaitiekūnas reaffirmed Lithuania’s support for Ukraine, describing the war as a broader struggle tied to European security and democratic values. He also backed accelerating Ukraine’s accession process to the European Union, arguing that deeper integration would strengthen regional stability and economic prosperity. Vaitiekūnas welcomed the EU’s SAFE programme, which is expected to support Lithuania’s defence capabilities while contributing additional assistance to Ukraine.

Looking Ahead To A More Unified Europe

Addressing the European Union’s future budget framework, Kristupas Vaitiekūnas said increased funding for security and defence represented a positive development. At the same time, he warned that reductions in cohesion funding and agricultural support could negatively affect purchasing power and long-term European unity. Lithuania is expected to place continued emphasis on Ukraine and regional security ahead of its upcoming EU Council Presidency in early 2027.

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