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SG SEC: ATA is the only tool to maintain the purchasing power of workers' wages against inflation

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SG SEC: ATA is the only tool to maintain the purchasing power of workers' wages against inflation

The Automatic Indicator Adjustment (ATA) is the “only tool” for maintaining the purchasing power of workers' wages against inflation, said the General Secretary of SEK, Andreas Matsas, speaking on the show “Morning Inspection” of Politis 107.6.

Specifically, Mr. Matsas, speaking on this issue, said that on a percentage basis in Cyprus, about a percentage of about 45% of employees enjoy ATA. “Based on the data obtained from the Ministry of Finance, in the salaries of January and the rest of the year there will be a percentage increase of 2.56%. That is, an employee who receives 1000 euros will have an additional benefit due to ATA € 25.60 per month “, he stated.

Employee tool

Asked about the course of inflation, he stressed that “taking into account the inflationary trends of the global economy, we believe that he did not come to leave soon” and for this reason “should be managed immediately in the next period.” “It is precisely through this parameter that the importance and the usefulness and necessity of the ATA are confirmed.”

He went on to say that “a company has the ability to adjust its prices to the base and inflationary trends of the economy.” For this reason, ATA, as he stressed, is “the only tool that the employee has in his hands to be able to meet his needs as a consumer, while maintaining the purchasing power of his salary.”

In addition, Mr. Matsas stated that it is imperative that the mechanisms of the state be activated in order to ensure the reduction of the phenomena of profiteering.

Minimum wage

Mr. Matsas also referred to the dialogue that is taking place for the securing of the minimum wage in Cyprus, stating that “we will see him very soon”.

In particular, as he stated, the guarantee of the national minimum wage will “work supportively both in terms of promoting quality and dignity at work.” He also stressed that the minimum wages “are interconnected with the possibility of increasing productivity, a fact that works in support of both the increase of wages and the increase of competitiveness of the companies themselves.”

Referring to the European Commission report on this issue, he said that it is at the basis of “promoting the interests of workers, supporting business, socially just economic development while at the same time closing the wage gap between men and women.”

Listen to the intervention of Andreas Matsas in the show “Morning Inspection” broadcast by Politis 107.6 & 97.6:

CITIZEN 107.6 · MORNING INSPECTION 27 – 01 – 2022 ANDREAS MATSAS

Source: politis.com.cy

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