Unemployment Expected To Rise In Cyprus

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Cyprus Minister of Labour and Social Insurance expects a small rise in unemployment in 2009 due to the global financial crisis.
 

Speaking to the Cyprus News Agency, Soteroulla Charalambous said that although a small rise in unemployment was to be expected, it would in no way resemble the increase in unemployment experienced in other EU member countries.
 
There has been a small rise in unemployment in the construction industry which may be a result of the completion of large projects. 
 
The Cyprus Government remain cautiously optimistic over the economy and would not be imposing more taxes in 2009.