According to the Treasury of the Republic of Cyprus, the expenditure of the Ministry of Labor for the first seven months of 2020 exceeded 1 billion euros. Most of this money was spent on government support for the economy affected by the Coronavirus pandemic.

By comparison, the total expenditure for the whole of 2019 was 1.07 billion euros.

The ministry reported that between January and July, spending increased by 407 million euros.

The highest expenses were recorded in May, 238 million euros.

From mid-March, when Cyprus closed for quarantine, until the end of May, the government subsidized the salaries of 180000 people. Between June and July, 70,000 employees were subsidized.

According to the Treasury, the costs of the Ministry of Labor are expected to remain high as an additional €106 million in aid was announced.

An additional €75 million is expected to be allocated between August and October.