OEB annual general assembly highlights economic challenges and reform needs

During the 65th annual general assembly of the Cyprus Employers and Industrialists Federation (OEB) in Nicosia, President Giorgos Pantelidis addressed key economic issues. He acknowledged positive indicators such as high growth, low inflation, and decreasing public debt, but warned that long-term strategic planning is essential. Pantelidis advocated for public sector reforms to match private sector efficiency and criticized the hesitation to act due to perceived political costs. The OEB president specifically highlighted risks in the energy sector, including potential supply shortages, and called for investments in renewable energy, power storage, and stable utility management. He also expressed concerns regarding the tourism sector following a recent drone incident at the Akrotiri British Base. Furthermore, he noted dissatisfaction with the exclusion of OEB representatives from official government-led business delegations abroad. The event was attended by the President of the Republic and other state officials.