Economy category powered by

Cabinet convening to extend targeted support measures

The Council of Ministers is convening for an extraordinary session on 28 March to approve a new package of targeted measures to alleviate pressures from price hikes.

According to CNA sources, the government will not renew the zero excise tax on fuels which expires at the end of March, but will renew the scaled state support to cover the increased cost of electricity bills both for households and businesses and the universal grant for vulnerable households.

The government will consider one-off grants to vulnerable groups subject to the allowances of the Deputy Ministry of Social Welfare, as well as the extension of zero and reduced VAT rates for basic goods.

According to the same sources, the new measures will extend to the end of June.

(Source: CNA)

Read More

Serious risks to the Cyprus economy if tensions escalate - The business world’s concerns
Αgriculture Minister to take part in 'Our Ocean Conference' in Athens
Energy Minister in Abu Dhabi for IRENA Assembly meeting
President Christodoulides holding meetings in London to promote investment
Keravnos reassures that Cyprus economy is not at risk from regional developments
Christodoulides visiting London to promote Cyprus as a business and investment destination
The car brands that buyers preferred in the first quarter of 2024
We are entitled to ask for an updated cost-benefit analysis of electricity interconnection, Energy Minister says
Cyprus and Japan to renew talks on strengthening economic and business ties
Deputy Minister underlines efforts to enhance Cyprus' tourism competitiveness