Cyprus to introduce new cost-of-living relief measures

Cyprus Deputy Finance Minister Makis Keravnos has announced that a new package of measures to combat the rising cost of living will be submitted to the next Council of Ministers. Following a meeting with various trade unions at the Presidential Palace, Keravnos stated that the government is continuously evaluating the situation to support all social strata, with a particular focus on low-income and vulnerable groups.

While the government aims for targeted measures, Keravnos noted that some actions may take a horizontal character if the issues affect the broader population. He expressed confidence in Cyprus’s social policies, suggesting the country’s approach could serve as a model within the European Union. Regarding recent economic decisions in other nations, such as Italy's fuel price caps, Keravnos maintained that the measures implemented in Cyprus over the last two years have been highly effective.