MONDAY, 6 DEC 2021

 

CONNECT

Facebook Linked In Twitter
Gold_November_leaderboard
GloriaJeans_266x90px
IMH LTD

Pope's Visit And Meetings In Cyprus Send Strong Message Of Solidarity, President Says

Cypriot FM Invites Egyptian Counterpart To Nicosia

gloria_christmas_266x90
IMH LTD

PROFESSIONAL SERVICES

brought to you by PWC

EY Cyprus: Local Education Sector Ranks Third in Europe

EY Cyprus: Local Education Sector Ranks Third in Europe

EY Cyprus has released the first issue of its Education Sector Dynamics newsletter, a thorough analysis of current developments and an outlook on forthcoming events in the Cyprus educational system. This issue covers key indicators of the overall educational system, legislation developments and Cyprus’s 2020 targets.

The educational system in Cyprus, the report indicates, is centralised and fully regulated by the Ministry of Education and Culture (MoEC). Full-time education is compulsory for children aged between 5 and 15 years old, while state schools, including tertiary educational institutions, are government financed. In addition to the state school system, there are many accredited independent private schools (both primary and secondary) as well as several private universities.

In 2014, Cyprus comfortably exceeded two of the headline targets for education set under the Europe 2020 strategy: the share of early leavers from education and training as well as the tertiary education attainment rate. In contrast, following the sharp increase in youth unemployment during the recent sovereign debt crisis, the percentage of Cypriots with higher education qualifications in employment is 77.3%, lower than the EU-28 average by 4.8%.

According to Education Sector Dynamics, Cyprus ranks 3 in the European Union with regard to public expenditure on education as a share of GDP, at 7.9% based on the latest available data of 2011. Additionally, Cyprus has the highest maximum statutory salary for teachers amongst the EU-28 member states, equivalent to 306% of GDP per capita. However, the relatively high expenditure on education and the high attainment rates are not reflected in the education learning performance of Cypriot citizens, especially in the fields of Science and Mathematics, where Cyprus ranks at a disproportionately low position in the EU.

As part of the implementation of the Memorandum of Understanding on Specific Economic Policy Conditionality (MoU), agreed with the Troika of international lenders, the Cypriot authorities have commissioned an independent external review of possible reforms of public administration. This includes a review of the appropriate system of remuneration and conditions of employment in the public sector (e.g. annual vacation leave, sick leave, maternity leave, working time), in relation to the private sector and to other EU countries and based on best practices. Since 2011, the government has imposed successive reductions in teacher salaries and benefits and is currently working on the introduction of a legislation that will incorporate significant reforms in the educational system aiming at both reducing government spending, while at the same time enhancing students’ performance.

Finally, the report outlines that the Europe 2020 targets aim at reducing the number of early leavers from education to less than 10% of the total population participating in education and training. As a result of the significant reduction in early school leavers recorded in 2014, Cyprus performed better than the EU-28 average in this area (6.8% versus 11.1% respectively), and achieved its national target of 10% considerably earlier than the target timeline of 2020.

MORE ON PROFESSIONAL SERVICES

Delfi Capital Becomes The First Authorised Sub-Threshold Alternative Investment Fund Manager In Cyprus

Delfi Capital Management Limited has announced its authorisation as the first ...

Bank of Cyprus NLE Ratio Drops To Single Digit

Bank of Cyprus Holdings Public Limited Company (“BOC Holdings” and, together ...

Eleven Years Later, Bank Of Cyprus Reinstates Promotions For Its Employees

Bank of Cyprus announced today upgrades within the Group that relate with internal ...

FROM AROUND GOLDNEWS

   

Total New Loans Down By €72.6 Million In October Says Central Bank Of Cyprus

Total new loans granted by Cyprus’ banks decreased by € 72.6 million in October 2021, compared to the previous month, mainly due to the significant reduction ...
   

City Of Dreams Mediterranean Appoints Jose Diaz As Executive Chef

Melco Cyprus announces its forthcoming integrated resort (IR), City of Dreams Mediterranean, has appointed Mr. Jose Diaz as Executive Chef.
   

Pope Francis: In Cyprus There's An Atmosphere Typical Of The Holy Land, Thankful To Meet Believers Who Live In Hope

Pope Francis said on Friday in Cyprus, he feels an atmosphere typical of the Holy Land, where antiquity and the variety of Christian traditions enrich every ...
   

Does This Ever End?

"Does this ever end?" A question asked by many nowadays as a newly detected coronavirus variant in Botswana and South Africa causes panic across the world.
   

ECB's Knot: High Inflation Could Warrant Rate Hike In 2023

If inflation continues to exceed expectations next year, the European Central Bank (ECB) could decide to raise interest rates in 2023, ECB policymaker Klaas ...
   

Inflation in Cyprus rises to 4.3% in November

Inflation in Cyprus rose to 4.3% in November mainly due to the sharp rise in electricity and petroleum products prices.
   

Pope's Visit And Meetings In Cyprus Send Strong Message Of Solidarity, President Says

Pope Francis` visit to Cyprus and the meetings he holds send a strong message of solidarity in our common cause and joint objectives and are a testament of the ...
   

Cypriot FM Invites Egyptian Counterpart To Nicosia

Minister of Foreign Affairs, Nikos Christodoulides, extended an invitation to his Egyptian counterpart Sameh Shoukry to visit Nicosia in the coming period.
 

YOUR COMMENTS

HEADLINES

MOST POPULAR

leptos_limassol_park_gr
Gold_November_issue

IMH LTD