Political exchange between the Cyprus government and AKEL regarding economic policy

The political party AKEL and the Cypriot government, represented by spokesman Konstantinos Letymbiotis, have engaged in a public dispute over economic management. AKEL criticized the administration, labeling it a protector of banks and the wealthiest 1% of the population, while alleging it ignores the needs of the working class. In response, Mr. Letymbiotis accused AKEL of hypocrisy, referencing the party’s previous governance period ending in 2013, which he claimed led to increased poverty and unemployment. The government provided statistics stating that the number of people at risk of poverty or social exclusion fell from 27.8% in 2013 to 17.1% in 2025. Additionally, the government highlighted that the minimum wage increased from 940 euros in 2023 to 1,088 euros as of January 1, 2025. AKEL maintains that these policies do not sufficiently protect the vulnerable, while the government asserts that current measures effectively strengthen citizens' incomes. The parties remain deadlocked in their disagreement over the legacy of 2013 and the effectiveness of present economic strategies.