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AKEL Proposes 11 Measures to Address Economic Impact of War

Published March 21, 2026, 12:13
AKEL Proposes 11 Measures to Address Economic Impact of War

AKEL has proposed 11 measures to address the economic impact of the war in the Middle East. The measures focus on supporting small and medium-sized businesses, protecting vulnerable borrowers in case of interest rate increases, and providing immediate assistance to vulnerable population groups. Specifically, it proposes the removal of “green” taxes, a permanent reduction of VAT on electricity to 5%, a tiered subsidy for electricity costs, and automatic inclusion of eligible beneficiaries in the special pricing scheme of the EAC. AKEL points out that the effects of the war are already being felt in the economy, with rising energy prices and tourism cancellations, and that immediate government intervention is needed to protect the economy and society.