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.
Fact: Finance Minister Makis Keravnos stated that Cyprus’ economy is performing better than most countries in the European Union.
The Cyprus government is ending an 8 cent subsidy on fuels after it expires on March 31, resulting in an initial increase of 7 to 8.3 cents a litre for motor petrol and diesel, along with a 6.3c hike on heating oil. The government also plans to introduce a green tax on fuel, which has been delayed until after the summer holidays. The impact of the green taxation on businesses and households is expected to be small, with compensatory measures provided to vulnerable population groups.