Latest Headlines

Fears of more unemployment in construction industry

The Chairman of the Cyprus Contractors Federation, Sotos Lois, fears that unemployment in the construction industry could rise to 20,000 next year.

REPRESENTATIVES of the Cyprus Contractors Federation met with leaders of the Democratic Rally party for talks on the serious problems faced by the Cyprus construction industry.

According to the Cyprus News Agency, Chairman of the Federation, Sotos Lois referred to the 2,500 dismissals in constructions and the dismissals in other similar sectors of activity.

So far, 2,500 builders have been dismissed and many more employees in similar jobs such as painters, carpenters etc. have been dismissed too. This means that dismissals might exceed 5,000 in the industry”, he said.

On the question about the Federation’s forecasts for 2010, Mr. Lois said that the unemployed might reach 20,000. “Once we had said that we could reach 20,000 for all people who are related in the industry, the architects, the consultants, the engineers etc. I hope I am wrong,” he said.

On the other hand, the Democratic Rally party Vice President said that the impact on employment will be obvious in the next few months.

On the question to Mr. Lois on the Federation’s proposals, he said that several measures of tax exemption have been recommended, which “will not reduce the state revenues, but will increase them”.

Mr. Lois also expressed his will to have meetings with all political parties and Ministers to express his concerns on the future of the construction industry in Cyprus.

Readers' comments

Comments on this article are no longer being accepted.


Back to top