Government prepares targeted and horizontal aid
Cyprus support measures are expected to be announced today, Thursday, by President Nikos Christodoulides, aimed at supporting all sectors of the economy affected by the war in the Middle East.
According to information from Cyprus Broadcasting Corporation, the government is set to implement a mix of horizontal and targeted measures. These are expected to include fuel relief, an expansion of products with a zero VAT rate, and financial support for businesses that have suffered revenue losses due to the crisis.
President signals “very targeted measures”
Speaking yesterday after the student parade in Nicosia marking the national anniversary of Greek War of Independence, the President said he would address the public today to announce “specific, very targeted measures that affect many sectors of the economy”.
He added that the government is able to proceed with new support thanks to its responsible fiscal policy. “We already have measures exceeding €100 million in place, and I cannot imagine what our response would be if we had not acted responsibly in economic matters, or if we had the financial conditions of 2012–2013,” he noted.
Measures to cover all affected sectors
The support measures will extend across all sectors impacted by the ongoing crisis, the President stressed.
At the same time, he confirmed that the government has prepared additional scenarios, depending on how the situation evolves. “As a responsible government, we have also developed further measures, which we will implement if necessary,” he said.
When asked whether the tourism sector would be included in Thursday’s announcements, the President confirmed that measures would cover all affected areas of the economy.
Also read: Turkish fighter jets spotted over Nicosia
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