electricity subsidy

Our View: Government must listen to reason over relief measures

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Our View: Government must listen to reason over relief measures

The IMF was critical of the government’s decision to extend ‘horizontal’ support measures, such as zero VAT and electricity bill subsidies, despite advising against it. The IMF expressed concerns that these measures could negatively affect public finances and undermine efforts to control inflation. The IMF also recommended avoiding indexing adjustments of wages, particularly in the public sector, to reflect macroeconomic developments and productivity increases.

Government introduces , €35 mln support package

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Government introduces , €35 mln support package

The government announced a €35 million package, including an extension to the electricity subsidy until the end of June, aimed at easing the burden of the cost-of-living crisis on Cypriot households.

Electricity subsidy extended until end of June

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Electricity subsidy extended until end of June

The electricity subsidy is being extended until the end of June and will cover more than 400,000 households and 100,000 businesses.

Cabinet to meet to discuss cost of living measures

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Cabinet to meet to discuss cost of living measures

The Cabinet is set to hold an extraordinary meeting to discuss and approve a new package of measures to alleviate the cost-of-living crisis. One of the measures being considered is extending the electricity subsidy until the end of June, which currently provides an average consumer with around a €14 reduction on their bill. Additionally, the government is looking into extending the scrapping of VAT on basic products until the end of June, which has had significant benefits for consumers. They are also considering extending various social welfare measures that were implemented in February.