Typos

First Package of Support Measures Activated to Address Energy Crisis in Cyprus

Published March 26, 2026, 14:27
First Package of Support Measures Activated to Address Energy Crisis in Cyprus

The President of the Republic, Nikos Christodoulides, announced a new package of support measures to address the energy crisis, addressing the Cypriot people through a televised message. These measures, which will be implemented in stages depending on the situation, aim to alleviate the burden on households and support the economy. Specifically, the plan includes a reduction in VAT on electricity to 5% for all domestic consumers from May 1, 2026, to March 31, 2027, as well as a reduction in the special consumption tax on fuel by 8.33 cents per liter for the months of April to June 2026. Additionally, VAT will be abolished on meat, poultry, and fish from April 1, 2026, to September 30, 2026, adding these products to the list of goods with zero VAT (along with fruits and vegetables). Furthermore, the imposition of the Green Tax on fuels has been decided against, which would have increased the cost by 9 cents per liter. In the tourism sector, a 30% subsidy is planned for the wages of employees in the hotel industry for units operating throughout the April-April 2026 period, as well as support for airlines to ensure the connection of Cyprus with important tourist destinations. For the agricultural sector, subsidies are planned for the purchase of fertilizers (15% cost coverage) and agricultural supplies (15% cost coverage) for the months of April and May. President Christodoulides emphasized that the government is in a region of geopolitical turmoil and that the safety of citizens and the strong economy of the country are priorities, enabling effective interventions for the benefit of citizens.