The Council of Ministers which convened today under President of the Republic Nicos Anastasiades, approved the national action plan for youth employment.
The overall budget for the implementation of the action plan reaches 47.230,000 euro.
The action plan focuses on seven priorities, which include the implementation of the EU Youth Guarantee, monitoring and assessment of the policies on employment market, enforcement of the effectiveness of the employment services, promotion of the small and medium sized enterprises, prevention measures against dropping out of school and policies to increase youth inclusion in the job market.
The financing comes from national funds (1,100,000 euro), the European Social Fund (31,980,000 euro), the European Fund for Rural Development (3,150,000 euro) and the EU Youth Employment Initiative (11,600,000 euro).
In September 2014 youth unemployment in Cyprus reached 34.80% (in May 2014 the lowest rate in the EU was in Germany 8% and the highest was in Greece 58%, while the EU average was 22.2% and Eurozone average was 23.3%).
CNA/AAR/GV/2014
ENDS, CYPRUS NEWS AGENCY