A new package of measures aimed at addressing the rising cost of living will go before the Council of Ministers at 4.30pm on Wednesday, according to Finance Minister Makis Keravnos.
The government is considering further support for households and vulnerable groups, alongside measures already in place. An AKEL protest outside the Finance Ministry is also scheduled for Wednesday afternoon.
New measures under consideration
Keravnos announced the package following a meeting between the President of the Republic and the OEKDY-SEK, PASYEK PEO and DEE-KDOKO DEOK trade unions.
He said the government was working on new support packages, one of which would be presented at Wednesday's Council of Ministers meeting.
According to Keravnos, the situation is being continuously assessed, with the government intending to continue supporting all sections of society while placing particular emphasis on low-income households and vulnerable groups.
Targeted and broader support
The finance minister said additional measures beyond those already in place are under consideration.
He said the primary objective was for support to be targeted, although broader measures have not been ruled out in cases where problems affect society as a whole.
Keravnos also argued that Cyprus has implemented more extensive interventions than other European Union member states, expressing the view that the country could serve as an example in tackling the rising cost of living.
Referring to the Italian government's decision to impose a cap on oil prices, he said the Cypriot government has been implementing measures for the past two years which, in his view, are more developed than similar initiatives introduced by other European governments.
AKEL protest planned
Keravnos also commented on the protest scheduled to take place outside the Finance Ministry on Wednesday afternoon.
He said Cyprus is governed by the rule of law and is a democracy, adding that every citizen has the right to freely express their views and demands.
Source: CNA
