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Cyprus to Announce New Measures to Mitigate Economic Impact of War

Published March 23, 2026, 17:16
Cyprus to Announce New Measures to Mitigate Economic Impact of War

The government announced that it will soon present new relief measures to mitigate the economic impact of the war in the region. Government Spokesman Konstantinos Letymbiotis stated that the measures will take into account the duration of the crisis and will be targeted, in accordance with European Union guidelines. The government has already taken measures worth €100 million, such as reducing VAT on electricity and subsidizing vulnerable consumers. The discussion on the new measures took place at a meeting chaired by the President of the Republic with the Minister of Finance. The measures will be announced soon by the competent Ministry and will take into account the specificities of Cyprus, such as its energy mix.