Keravnos to bring cost-of-living package to cabinet this week
Cyprus's finance minister says a set of measures aimed at easing household pressure will go before cabinet in the coming days, after talks with union representatives.
Finance Minister Makis Keravnos said on Monday that a fresh package of measures to soften the impact of rising prices will be tabled at the next cabinet meeting, as reported by Cyprus Mail. He was speaking after sitting down with trade union representatives.
The minister described the planned interventions as mainly targeted, though he left the door open to broader steps where a problem affects society as a whole. His remarks came as diesel in Cyprus hit €2 per litre this week, with petrol sitting at roughly €1.68 per litre.
Pressure on fuel prices has built up following the expansion of the Iran-backed Houthi movement's grip in Yemen, which now covers most of the country's western coastline, including the eastern part of the Bab al-Mandab strait. Attacks on Saudi Arabia's east-west oil pipeline have added to the strain, pushing crude prices higher.
"The government is working on some measures and there will be a package before the next cabinet meeting," Keravnos said.
What it means for residents
Any new package will land on top of existing support, but the timing matters — fuel and grocery bills are felt every week, not once a year, so residents should watch the details of the announcement rather than the headline.
- Check eligibility early. Targeted measures usually mean income tests, so keep recent payslips and tax documents handy before applying.
- Fuel remains the wild card. With diesel already at €2, a cap or subsidy would show up at the pump quickly — but only if the cabinet signs off.
- Broad measures cost more. If the package goes beyond targeted help, expect the discussion about public finances to resurface later in the year.
This text is written from the source article and is not a translation of it.
