A package of support measures will be announced today, Thursday, by President Nikos Christodoulides to address the economic repercussions of ongoing regional instability.
Rising fuel prices have been a key concern for weeks, with the Ministry of Finance preparing a government package aimed at easing pressures on households and businesses.
According to public broadcaster the Cyprus Broadcasting Corporation (CyBC), the government is expected to adopt a combination of horizontal and targeted measures. These are set to include, among other actions, relief in the fuel sector, an expansion of products eligible for the zero VAT rate, and support for businesses whose revenues have been hit by the crisis.
In the tourism sector, the government is also examining the possibility of offering incentives to Cypriot citizens to choose domestic destinations for their holidays.
The measures are expected to be finalised and approved at today’s Cabinet meeting.
Source: CyBC Radio