Politis

DIKO Presents 20 Proposals to Tackle Rising Cost of Living in Cyprus

Published March 24, 2026, 14:24
DIKO Presents 20 Proposals to Tackle Rising Cost of Living in Cyprus

The Democratic Party (DIKO) has unveiled a package of 20 targeted proposals aimed at addressing the rising cost of living and economic pressures faced by Cypriot households. DIKO President Nicolas Papadopoulos stated that these proposals will be submitted to Parliament and are already under discussion with the Government for immediate implementation. The economic pressure is attributed to both external factors such as the war, rising energy prices, and inflation, as well as domestic issues like oligopolies and monopolies. The proposals focus on key areas such as food, energy, fuel, and housing, with the goal of protecting the purchasing power of households. In the food sector, it is proposed to impose price caps on essential goods during times of crisis and to strengthen the role of the Competition Commission. In the energy sector, measures for immediate relief are proposed, such as the automatic reduction of VAT on electricity, as well as long-term solutions such as increasing production from Renewable Energy Sources (RES). For fuels, targeted subsidies are proposed during periods of soaring prices and programs to subsidize electric vehicles. DIKO places particular emphasis on supporting the younger generation, proposing the expansion of beneficiaries for child benefits and student grants, as well as state subsidies for contributions to the Social Insurance Fund for workers under the age of 25. Mr. Papadopoulos stressed that the Cypriot economy is in good shape and that these proposals are costed and feasible, emphasizing the need for immediate action and effective solutions to tackle rising prices and protect citizens.