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15 July, 2024
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Government implements measures to alleviate rising prices

Targeted and broad-ranging initiatives announced in response to concerns over price hikes


In response to concerns over price hikes, the government has unveiled a set of targeted and broad-ranging measures aimed at alleviating financial strain for citizens. These measures, announced following an extraordinary Cabinet meeting chaired by President Nikos Christodoulides and Finance Minister Makis Kerianos, include:

1. Extension of targeted electricity subsidies for May and June.
2. Continued reduction of electricity tariffs.
3. One-time support for fuel costs for eligible households, distributed in April, May, and June.
4. €100 one-time support for transit allowance recipients.
5. Enhancement of low pensioners' allowance by €100 per month, benefiting 28,000 individuals.

President Christodoulides emphasized the government's commitment to addressing poverty with both targeted and broad initiatives, citing previous financial packages totaling €255 million. These measures aim to provide relief to those most affected by rising prices.

Cyprus  |  economy  |  inflation

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