Cabinet backs €70m relief package as living costs climb
Cyprus ministers have cleared an extra €70m in cost-of-living measures, taking total government support to roughly €160m, including schemes already running.
According to Sigma, the cabinet on Wednesday signed off on a fresh €70 million bundle of emergency steps aimed at inflation and household expenses. Added to programmes already in force, state backing now comes to about €160 million.
Finance Minister Makis Keravnos, presenting the decision after the meeting, said the measures honour the government's pledge to help households squeezed by higher living costs. The package keeps electricity subsidies running, trims VAT on basic goods and photovoltaic systems, and provides a one-off €200 payment to 53,511 vulnerable citizens.
Support for people living in mountainous areas is also being raised.
"The government was able to introduce the additional measures because of its economic policy," Keravnos said, adding that it had produced budget surpluses while cutting public debt.
What it means for residents
The practical effect depends on which category you fall into, so it is worth checking whether you are already on the relevant lists or need to act.
- Electricity bills stay subsidised for now, so households can expect the cushion on power costs to continue into the coming period.
- Vulnerable citizens who qualify for the one-off €200 payment should confirm their details are up to date with the paying authority to avoid delays.
- Mountain residents will see their assistance increased; those ineligible for any of the schemes still face the full impact of prices.
This text is written from the source article and is not a translation of it.
