Public Sector Employment In Cyprus Sees Moderate Growth Amid Structural Reshuffle

by THEFUTURE.TEAM

September 16, 2025

Employment figures for Cyprus’ broad public sector reached 77,314 in the second quarter of 2025, according to new data released by the Statistical Service (Cystat). The comprehensive update highlights significant trends across government branches and publicly owned enterprises.

Steady Growth In Government Roles

Within the aggregate public sector, 72,275 individuals were employed by general government, and an additional 5,039 worked for publicly owned enterprises and companies. A closer look at the general government segment reveals separations of 55,208 in central government, 11,185 in non-profit organizations, and 5,882 in local authorities. Compared to the same quarter in 2024, there was an overall increase of 1,600 jobs, marking a 2.1% growth in public sector employment.

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Structural Reallocation And Local Authority Expansion

The central government added 969 positions—a 1.5% rise—while local authorities experienced a substantial surge with an increase of 1,295 jobs or 28.2%. This shift is closely linked to administrative changes following the establishment of district local government organizations (DLGOs) on July 1, 2024, which have assumed responsibilities for water and sewerage boards. Conversely, publicly owned enterprises and companies recorded a decline of 664 positions, reflecting an 11.6% reduction within that sector.

Sequential Quarterly Adjustments

When viewed quarterly, total employment in the broad public sector rose by 280 jobs (0.4% growth) from the first quarter of 2025. Specifically, local authorities continued their upward trajectory with a 5.4% increase (301 jobs), and publicly owned enterprises saw a modest gain of 77 positions (1.6%). In contrast, the central government experienced a slight contraction with a decline of 98 positions (0.1%).

These data points suggest that while the overall public sector is on a growth path, strategic reallocations—particularly the rise in local authority employment and restructuring of publicly owned enterprises—are reshaping the employment landscape in Cyprus.

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Cyprus-Based ASBIS Hits Record $1.05bn In Monthly Revenue, Up 216% Year On Year

by News Editor

October 21, 2026

The technology distributor ASBIS Group, headquartered in Limassol, has exceeded $1 billion in monthly sales for the first time in its history, reporting preliminary consolidated revenue of $1.05 billion in September 2026, more than three times the amount recorded a year earlier.

The figure represents a 216% increase from $332 million in September 2025, making it the highest-revenue month in the company’s history.

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ASBIS reported its strongest sales growth in servers and server components, while CEO Serhei Kostevitch pointed to growing demand for artificial intelligence solutions and computing infrastructure as an opportunity for the business.

For a company operating across Europe, the Middle East and Africa, September marked a new sales milestone following several months of substantial year-on-year growth.

Kostevitch attributed the record performance to the group’s existing operations, highlighting its broad product portfolio, international market presence and strong relationships with manufacturers and trading partners.

“Most importantly, this result is the outcome of our regular operating activities,” he said.

The CEO also highlighted the company’s portfolio of projects as a reason for confidence in continued AI-related development.

However, the group’s growth was not limited to AI-related technologies. Smartphones also performed strongly in September, with Kostevitch stressing that “we are growing beyond the AI segment as well.”

Kazakhstan, the United Arab Emirates and Ukraine accounted for the largest shares of ASBIS’s September revenue, followed by Slovakia and Poland.

Growth Follows Record First Half

September’s results follow a period of strong financial performance for ASBIS.

In July, the company reported preliminary consolidated revenue of $531 million, an increase of 89% compared with the same month in 2025. August brought a further rise to $604 million, up 91% year on year.

September’s $1.05 billion figure represents a substantial increase on both months, although the company has not provided a detailed breakdown explaining the acceleration.

The results also follow a record first half of 2026, when ASBIS generated approximately $2.97 billion in consolidated revenue, up 76% year on year.

Net profit after tax reached $80.6 million, compared with $19.4 million in the same period in 2025.

The second quarter was particularly strong, with revenue reaching $1.69 billion, an increase of 78.7%, while quarterly net profit more than tripled to $44.3 million.

ASBIS has emphasised that its September revenue figures are preliminary estimates and may differ from the final reported results.

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