By Stelios Orphanides
Government spokesman Prodromos Prodromou said that the ongoing improvement in economic conditions in Cyprus has allowed the jobless rate to drop below the psychological number of 10 per cent bringing full employment within reach.
“The continuous increase in employment and the subsequent reduction of unemployment shows that the Cypriot economy’s growth is not circumstantial but the outcome of a new strategic direction which we have to widen and deepen,” Prodromou, who also has a degree in economics said in an emailed statement on Friday.
Prodromou added that the rate of Cyprus’s unemployment reduction is the highest recorded by Eurostat, which in turn makes full employment conditions in a few years, a target set by President Nicos Anastasiades, achievable.
Cyprus’s unemployment rate fell to 9.8 per cent in January compared to 12.6 per cent a year before and a peak of 16.8 per cent during the crisis years.