Implementing decision 2022/2082 - Amendment of Implementing Decision (EU) 2020/1344 granting temporary support to Cyprus to mitigate unemployment risks following the COVID-19 outbreak - Main contents
Please note
This page contains a limited version of this dossier in the EU Monitor.
Contents
official title
Council Implementing Decision (EU) 2022/2082 of 25 October 2022 amending Implementing Decision (EU) 2020/1344 granting temporary support under Regulation (EU) 2020/672 to the Republic of Cyprus to mitigate unemployment risks in the emergency following the COVID-19 outbreak| Legal instrument | implementing decision |
|---|---|
| Number legal act | Implementing decision 2022/2082 |
| Regdoc number | ST(2022)12974 |
| Original proposal | COM(2022)507  |
| CELEX number i | 32022D2082 |
| Document | 25-10-2022; Date of adoption |
|---|---|
| Publication in Official Journal | 28-10-2022; OJ L 280 p. 27-31 |
| Effect | 03-11-2022; Takes effect Date notif. See Art 2 |
| End of validity | 31-12-9999 |
| Notification | 03-11-2022 |
28.10.2022 |
EN |
Official Journal of the European Union |
L 280/27 |
COUNCIL IMPLEMENTING DECISION (EU) 2022/2082
of 25 October 2022
amending Implementing Decision (EU) 2020/1344 granting temporary support under Regulation (EU) 2020/672 to the Republic of Cyprus to mitigate unemployment risks in the emergency following the COVID-19 outbreak
THE COUNCIL OF THE EUROPEAN UNION,
Having regard to the Treaty on the Functioning of the European Union,
Having regard to Council Regulation (EU) 2020/672 of 19 May 2020 on the establishment of a European instrument for temporary support to mitigate unemployment risks in an emergency (SURE) following the COVID-19 outbreak (1), and in particular Article 6(1) thereof,
Having regard to the proposal from the European Commission,
Whereas:
(1) |
Further to a request from Cyprus on 6 August 2020, the Council, by means of Implementing Decision (EU) 2020/1344 (2), granted financial assistance to Cyprus in the form of a loan amounting to a maximum of EUR 479 070 000 with a maximum average maturity of 15 years, and with an availability period of 18 months, with a view to complementing Cyprus’ national efforts to address the impact of the COVID-19 outbreak and respond to the socioeconomic consequences of that outbreak for workers and the self-employed. |
(2) |
The loan was to be used by Cyprus to finance the short-time work schemes and similar measures, as referred to in Article 3 of Implementing Decision (EU) 2020/1344. |
(3) |
Further to a second request from Cyprus on 10 March 2021, the Council, by means of Implementing Decision (EU) 2021/680 (3) amending Implementing Decision (EU) 2020/1344, granted additional financial assistance of EUR 124 700 000 to Cyprus by increasing the maximum loan amount to EUR 603 770 000 with a maximum average maturity of 15 years, and with an availability period of 18 months, with a view to complementing Cyprus’ national efforts to address the impact of the COVID-19 outbreak and respond to the socioeconomic consequences of that outbreak for workers and the self-employed. |
(4) |
The additional loan was to be used by Cyprus to finance the short-time work schemes and similar measures, as referred to in Article 3 of Implementing Decision (EU) 2020/1344, as amended by Implementing Decision (EU) 2021/680. |
(5) |
The COVID-19 outbreak has immobilised a substantial part of the labour force in Cyprus. This has led to repeated sudden and severe increases in public expenditure in Cyprus in respect of the measures referred to in Article 3, points (c), (e), (f), (g), (h) and (i), of Implementing Decision (EU) 2020/1344. |
(6) |
The COVID-19 outbreak and the extraordinary measures implemented by Cyprus in 2020, 2021 and 2022 to contain that outbreak and its socioeconomic and health-related impact had and are still having a dramatic impact on public finances. In 2020, Cyprus had a general government deficit and debt of 5,8 % and 115,0 % of gross domestic product (GDP) respectively, which narrowed to 1,7 % and 103,6 % respectively at the end of 2021. According to the Commission’s 2022 spring forecast, Cyprus is forecast to have a general government deficit and debt of 0,3 % and 93,9 % of GDP respectively by the end of 2022. According to the Commission’s 2022 summer interim forecast, Cyprus’ GDP is projected to increase by 3,2 % in 2022. |
(7) |
On 5 September 2022 Cyprus requested further financial assistance from the Union in the amount of EUR 29 200 000 with a view to continuing to complement its national efforts undertaken in 2020, 2021 and 2022 to address the impact of the COVID-19 outbreak and respond to the socioeconomic consequences of the outbreak for workers and the self-employed. In particular, Cyprus further extended or amended the short-time work schemes and similar measures set out in... |
More
This text has been adopted from EUR-Lex.
This dossier is compiled each night drawing from aforementioned sources through automated processes. We have invested a great deal in optimising the programming underlying these processes. However, we cannot guarantee the sources we draw our information from nor the resulting dossier are without fault.
This page is also available in a full version containing the legal context, de Europese rechtsgrond, other dossiers related to the dossier at hand and the related cases of the European Court of Justice.
The full version is available for registered users of the EU Monitor by ANP and PDC Informatie Architectuur.
The EU Monitor enables its users to keep track of the European process of lawmaking, focusing on the relevant dossiers. It automatically signals developments in your chosen topics of interest. Apologies to unregistered users, we can no longer add new users.This service will discontinue in the near future.