24 February 2026, 00:00

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The financial viability of GeSY is not at risk, stated the President of the OAU

The financial viability of GeSY is not at risk, stated the President of the OAU

The General Health System is not at risk in terms of financial sustainability, said the President of the Health Insurance Organization, Stavros Michael, who sent a message of stability for the NHS, since it has a significantly higher reserve above international recommendations.

Responding to journalists' questions, after the meeting he had at the Organization's offices, in Nicosia, with the General Secretary of AKEL, Stefanos Stefanou, Mr. Michael said that the system has "a very good reserve, much higher than what is recommended by actuarial studies and international and best practices", to note that the concerns expressed from time to time inside and outside Parliament "are not confirmed by the data".

At the same time, he clarified that the positive image does not allow for complacency, emphasizing continuous supervision and early intervention where required.

As he said, "every actuary, when he makes a forecast, tells you that this is the data, but you have to be alert, to monitor, so that if corrective measures are needed, you can take them".

According to Mr. Michael, the main goal of the current phase is the quality of health care.

"We have financial viability. We must also achieve qualitative sustainability", he said, explaining that this will be achieved through the treatment of abuses, the inclusion of innovative drugs and new technologies, the rationalization of drug prices and the correct capacity planning (capacity planning), so that the development of the system is done on a rational basis.

For his part, the General Secretary of AKEL stated that the finances of the system were discussed at length at the meeting, clarifying that the issue of sustainability was not particularly discussed, as - as he said - "no such issue arises".

However, Mr. Stefanou emphasized the need for rational management of resources, saying that "there is too much money, there are too many investments that must be made".

"There are", he noted, "many demands and needs in the health sector and many times the infrastructures are expensive".

In conclusion, he emphasized that thoughtful planning and proper management are required "to rationally and prospectively manage the resources we have", sending a message that the next challenge for the National Health Service is not its survival, but its upgrading and armoring over time.

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