Employers’ federation head calls for calm to protect Cyprus economy

Cypriot Employers and Industrialists Federation (Oev) president George Pantelidis, on Thursday called for the immediate continuation of daily social and business activity in Cyprus, warning that unnecessary disruptions could lead to avoidable economic losses amid the crisis in the Middle East.

In a written statement, Pantelidis said the government has assured that Cyprus does not participate and will not be involved in military operations in the region.

He noted that the island’s proximity to the area of operations, combined with the recent drone incident at the RAF Akrotiri base, led to the immediate mobilisation of state mechanisms and the strengthening of defensive measures with the assistance of allied countries, primarily Greece.

Pantelidis described public concern as understandable, stressing the importance of timely and reliable information to prevent unnecessary panic.

According to the Oev, business activity across the economy continues without significant disruption.

The only notable impact so far has been the temporary suspension of flights by certain airlines to the island’s airports, the federation said.

Referring to a statement by Hermes Airports, he said that “the majority of airlines have maintained their schedules, while those that had briefly suspended flights have already resumed routes to Larnaca International Airport and Paphos International Airport, reinforcing a sense of stability and security.”

At the same time, Pantelidis urged the government to “consider preventive measures to cushion potential economic pressures stemming from expected increases in fuel and raw material prices.”

Pantelidis also called for targeted support for the hotel and tourism sector, while noting that the media contributed to objective public information and expressing confidence that they will continue to do so as the country moves towards a full return to normality.