Today, the President of the Republic announces a series of support measures to deal with the economic effects of the ongoing regional instability.
The rise in fuel prices has been in the sights of the Ministry of Finance for weeks, which, in full consultation with the President of the Republic, is drawing up a government package of support measures.
According to Rick’s information, the government is expected to choose a combination of horizontal and targeted measures, which will include – among others – relief in the fuel sector, an increase in products with a zero rate of VAT and support for businesses that have suffered a blow to their income due to the crisis.
In addition, in the tourism sector, the possibility of granting incentives to Cypriot citizens to choose destinations within the country for their holidays is also being considered.
The measures are expected to be finalized and approved during today’s meeting of the Council of Ministers.
Source: Radio RIK