What the pandemic has left behind in the economy of Limassol – Chamber President: 'To safeguard what we have achieved'

Limassol is experiencing the effects of the pandemic in all sectors, from the construction sector to shipping,"LCCI President Costas Galatariotis said speaking to "Entrepreneurial Limassol", making an initial assessment of the consequences of the health crisis, a few days after the implementation of the first phase of the gradual easing of the restrictive measures. ‘’But if,’’ he points out, "we behave with social responsibility", then these effects will be limited and the economy will recover sooner.

The greatest and immediate impacts are recorded on tourism and, by extension, in the food sector, while the impact on the construction sector, according to the estimates of the President of the LCCI, is expected in a second stage. However, a recession in the above sector is expected in the short term with possible postponement of the dates of projects that have not started. "By the end of the tourist season, we will have a clearer picture", said Costas Galatariotis, about the impact on the economy of Limassol.

Reacting rapidly and with a high sense of social responsibility, LCCI, in the midst of the pandemic, donated eight heart monitors to the Limassol General Hospital, worth 25 thousand euro. At the same time, the Chamber took other important decisions to support businesses: a) the launch of a scheme to provide secretarial and audit services to start-ups, but also to provide housing for the above enterprises in the Chamber premises, b) from 1 June free provision of information on all labour issues, in collaboration with experienced labour consultants. At the same time, LCCI submitted suggestions through the CCCI to the government, for the recovery of businesses and the economy.

Sending a message that we must safeguard what we have achieved so far, Costas Galatariotis stressed that ‘’if in the process some individuals continue to act irresponsibly, we will support any decisions of the government to take tougher measures as for example, higher fines to those who do not follow the instructions of the Ministry of Health. The Cypriot economy cannot take any more shocks, nor another lockdown’’.


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