By decision of the Council of Ministers, the latter under outgoing President Nikos Anastasiadis, the subsidy measure for the cost of electricity consumption was extended and the imposition of reduced excise duty rates for specific products.
According to a written statement by Deputy Government Representative Niovis Parisinou, the extension of the measure to subsidize the cost of electricity consumption to deal with inflationary pressures was approved for two additional months, specifically, for the invoicing period of March - April 2023 (concerns electricity consumption in the period of January - February).
The estimated cost amounts to €30 million and covers 449.000 homes, 111.500 businesses as well as water consumption for water supply and irrigation purposes. The subsidy, he says, will cover residential, commercial, industrial users as well as water users, for the purpose of water supply and/or irrigation and/or rainwater pumping of bimonthly pricing.
It is noted that the Government has subsidized, in total to date, the amount of 58,4m. Euro approximately, in 1.353.088 electricity bills issued from 1/9/2022 to 31/1/2023.
Also in the context of the measures being promoted to mitigate the effects of the ongoing war in Ukraine and especially the increased fuel prices, the Council of Ministers approved the bill entitled "The Consumption Taxes (Amendment) Law of 2023".
According to Ms. Parisinou, the bill grants an extension for a period of 2 months, from March 1, 2023 to April 30, 2023, of the imposition of reduced rates of excise duty for specific products, due to the ongoing challenges faced by households and businesses in sector of energy product prices.
With the granting of the extension, there will be an alleviation of the economic costs borne by consumers and businesses in the Republic.
Emergency aid for the goat and sheep industry and a grant for the costs of trafficking stranded people
The Council of Ministers approved the payment of emergency state aid for the Sheep and Goat Breeding Sector, with a maximum total amount of 7 million Euros. The payment of State Aid will be carried out by the Cyprus Agricultural Payments Organization (KOAP), according to the databases of the Competent Authorities. In the total amount that will arise per beneficiary, an offset will be made with potential debts of beneficiaries to the state.
In addition, the Council of Ministers, taking into account the recent sharp increase in the cost of fuel, which has a serious impact on the cost of transportation and the financial burden suffered by the stranded Greek Cypriots as a result, approved the grant of the transportation expenses of the stranded in a way so that the routes to and from Kormakitis and Karpasia are subsidized with the monthly amount of €850 (incl. VAT) instead of the current €750 and the routes from and to Rizokarpasos and Agia Triada Gialousa to are subsidized with the weekly amount of €225 (incl. VAT), instead of the current €200.