Dialogos

Accuracy: 'Social Crisis Within a Strong Economy'

Published March 23, 2026, 09:02
Accuracy: 'Social Crisis Within a Strong Economy'

Economist Stelios Platis points out that Cyprus is experiencing a 'social crisis within a strong economy', as surpluses in public funds are not being returned to society to address the rising cost of living. The price rally has created excess profits of €2.5 million, which are collected through taxation but not redistributed to citizens. Mr. Platis proposes a redistribution of wealth through fuel subsidies, reduced energy taxes and support for strategic sectors. At the same time, the president of the Cyprus Consumers Association, Marios Drousiotis, reports that fuel and electricity prices are constantly increasing, significantly burdening households. Price increases are expected to continue in products, making 2026 a particularly difficult economic year.