DIKO

According to DIKO, the three most significant problems of the economy concern the cost of living, which is closely linked to housing and the cost of electricity.

“When, in particular, young couples and low‑income pensioners struggle to make ends meet, whether due to high rents and loan repayments, low wages and pensions, the rising cost of living or the high cost of electricity, we cannot remain indifferent,” DIKO told Politis.

“This is why we will continue to pursue goals we have set for some time, recognising early the problems faced by our fellow citizens. Proposals such as strengthening the Housing Finance Organisation and its cooperation with the Cyprus Land Development Organisation are examples in the area of housing.”

“We also need to increase foreign direct investment in our country to create quality jobs and therefore increase the disposable income of our young people. As regards electricity, one of our proposals is to allocate revenues from emissions trading to vulnerable groups.”

“At DIKO, we do not forget the sacrifices of our people which have enabled us today to speak of positive economic indicators, low inflation compared with the rest of Europe, surpluses, reduced debt and improved credit ratings. Nor would these indicators have been possible without proper handling and cooperation within the House Finance Committee to pass the laws that kept the country on a path of fiscal discipline,” the party stressed.

“And we will not forgive ourselves if the public and households do not benefit from these sacrifices, and if these positive indicators are not felt in people’s pockets. To achieve this, we must maintain the necessary levels of seriousness, experience, knowledge and responsibility in the new composition of Parliament.”

Volt

According to Volt Cyprus, policymaking must address the widening gap between macroeconomic indicators and the everyday reality of social inequality. “We support this transition in four key areas,” it noted.

Cost of living and housing affordability: Real wages remain stagnant while property prices are rising sharply. The housing crisis is not only about inflation. High construction costs and the growth of the offshore economy are worsening the situation. The attraction of high‑income professionals and tech companies has boosted GDP but has created a local imbalance between supply and demand, driving up rents and property values. These prices exclude a large part of the local workforce. A more aggressive approach to affordable housing and targeted rent support is required.
Energy efficiency and green transition: Cyprus has among the highest electricity costs in Europe, placing heavy pressure on households and businesses. The problem is twofold: dependence on imported fuel oil and an outdated electricity grid unable to manage high production from private solar installations. The uptake of solar energy is widespread, but managing the variability of renewable energy requires major investment in battery storage systems and smart meters. Current policy needs to address this gap and complete natural gas infrastructure as a transitional fuel. At the same time, initiatives such as “Photovoltaics for All” should be expanded to democratise energy production.
Management of legacy non‑performing loans: The 2013 financial crisis continues to affect the economy through non‑performing loans. Banks have transferred bad debt to credit‑acquiring companies, but the debt remains within the domestic economy and burdens many households and SMEs. The policy challenge is to create a functional, predictable framework that maintains the country’s creditworthiness while providing a strong safety net to protect primary residences. Previous efforts have struggled to strike this balance, leaving many people in financial distress.
Social exclusion and economic inequalities: The labour market shows a growing digital and sectoral gap, resulting in a 'two‑speed' economy. The technology and financial services sectors are seeing rapid wage growth, while traditional sectors such as tourism and retail face poverty and income insufficiency.

ALMA

As for ALMA, it was asked by Politis to outline the key economic issues it intends to prioritise but did not respond.

According to information on its official website, the party has set as a programme goal the modernisation of the country and the introduction of radical reforms to improve institutions and, ultimately, the quality of public life and citizens’ wellbeing.

Among its first 15 legislative initiatives are measures to tax excess profits of banks and renewable energy companies, as well as to protect the Social Insurance Fund.

The party also says “no to the sell‑off of housing to foreigners which drives up rents” and calls for a fair foreclosure system with protection of primary residences.

In statements on its website, it further notes that “our goal is a modern labour market that ensures fair wages, security and equal opportunities for all.”

At the same time, it emphasises that “we believe in healthy entrepreneurship that creates wealth, jobs and prospects for the country. Business profit, when operating within a framework of rules, transparency and social responsibility, is a key driver of growth and prosperity.”

“We advocate for a Cyprus where every worker has the opportunity to live with dignity, where pensions provide real security and where no one is left behind.”

Cost Of Living #

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