President Nikos Christodoulides has issued a stern warning against any attempt to exploit the ongoing regional conflict for financial gain, signalling that the issue of rising prices would be brought before the Council of Ministers today, Monday, 16 March.
Speaking to journalists as he arrived for a meeting with local community authorities in Pachna, in the Limassol mountain region, on 14 March, the President was asked to comment on the economic fallout from the war in Iran — and in particular on the surge in fuel and consumer goods prices now being felt across the island.
"We are monitoring everything — the price increases, all of it," Christodoulides said. "We will not tolerate any form of profiteering or any attempt by anyone to exploit this situation at the expense of consumers," he assured.
The President reminded reporters that protective measures are already in place, including a zero VAT rate on essential goods and a subsidy on electricity bills, and made it clear that the government stands ready to act further should circumstances demand it.
(Source: CNA)
