The President of the Republic of Cyprus, Nikos Christodoulides, announced a package of eight measures across multiple sectors—including electricity, fuel, VAT on food, agriculture, transport, and tourism—to support households and businesses. In an audio-visual message following today’s cabinet meeting, he emphasized that economic stability is a matter of national security and added that any appearance of obscenity would not be tolerated.
He noted that the total cost of the measures, including those already in force, exceeds €200 million.
The new measures include:
- A further reduction in the VAT rate on electricity to 5% for all residential consumers from May 1, 2026, to March 31, 2027.
- A reduction in excise duty on motor fuel by €0.083 per liter for the months of April to June 2026.
- A zero VAT rate on meat, poultry, and fish from April 1 to September 30, 2026, in addition to the existing zero VAT rate on fruit and vegetables.
- A decision not to impose the Green Tax on fuel, which would have added an extra €0.09 per liter.
Additional measures include:
- A 30% wage subsidy for hotel industry workers in units and tourist accommodations operating from April 1 to April 30, 2026.
- Support for airlines to maintain uninterrupted connections with major tourist destinations.
- A 15% subsidy for farmers on the cost of fertilizers and other agricultural inputs during April and May 2026.
“Just as we have taken all necessary measures and used every available tool to ensure the security of the country and its citizens, we are doing the same to provide effective support for society, citizens, and businesses,” President Christodoulides said.
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