Cyprus Extends Measures to Combat Inflation
The Republic of Cyprus has announced new measures to help households deal with high inflation. The subsidy on electricity costs has been extended until October, and the zero VAT on essential goods has been extended until September.
Government spokesperson Konstantinos Letymiotis announced these new support measures after a Cabinet meeting. He stated that the electricity subsidy will be extended from July to October 2024, and the reduced and zero VAT on essential goods will continue until the end of September 2024.
He also highlighted the government's "prudent financial management," which enables targeted support for vulnerable groups.
Konstantinos Letymiotis emphasized that Cyprus remains an "attractive investment destination" and confirmed the government's commitment to finding permanent solutions to reduce energy costs, such as accelerating the adoption of "green energy."
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