The price of oil is increasing aggressively in view of this winter, as well as the energy crisis we are experiencing.
The Cypriot economy was not ready for this wave of precision, but it is not destructive and we can deal with it, said the Deputy General Director of the Federation of Employers & Industrialists (OEB), Kostas Christofidis, speaking on the show "Mesimeri ki Kati".
"We should expect the effects on both businesses and households. We should emphasize on saving electricity," he added.
For his part, Economist Michalis Florentiadis, when asked if he can estimate the price of oil in Cyprus, replied that it is difficult, as it also depends on the level of taxation, but also on the decline of the euro against the dollar.
"The price of oil is in dollars, so we have since the beginning of the year an increase of around 13-14%, because we buy less dollars with our euros," explained Mr. Florentiadis.
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