President Nicos Anastasiades on Wednesday announced a package of 10 measures worth more than €340 million to combat unemployment and social exclusion in the wake of the economic crisis.
The measures include creating an entrepreneurship fund at a cost of so that loans can be given to small and medium businesses at favourable interest rates.
Other actions include a €7m scheme to finance retail companies employing up to four people, a scheme for practical training and one month employment for jobless people.
The President announced two schemes that will give unemployed youths the opportunity to acquire work experience and a monthly social benefit of €500 with the aim of placing 5,000 young people in the labour market.
A scheme to give young unemployed graduates the chance to acquire work experience in companies and organsiations in 2014 was also announced with the aim of benefiting 2,500 unemployed young graduates.
An €8m scheme was also announced so that 2,500 high school and post lyceum graduates will also acquire work experience in 2014.