Cypriot government weighs new measures to combat rising costs

On October 13, 2026, President Nikos Christodoulides of Cyprus announced that the government is evaluating additional measures to combat inflation and the rising cost of living. Speaking at a Forbes conference in Limassol, the President noted that over €1 billion has already been allocated to support households and businesses through ongoing programs. The administration’s strategy is built on three pillars: providing immediate relief, increasing disposable income, and implementing long-term structural solutions.

Christodoulides emphasized that Cyprus maintains the fiscal capacity to fund these initiatives due to responsible management. The government is also coordinating with European partners ahead of an upcoming EU summit, where it plans to promote collective strategies for managing energy prices. Beyond economic policy, the President mentioned an upcoming meeting with Turkish Cypriot leader Tufan Erhurman, expressing a willingness to engage based on a structured plan that has received preliminary positive feedback from the United Nations.

Moving forward, the government continues to assess daily economic data and is awaiting regulatory frameworks from the European Commission to further refine its relief efforts. Officials indicated that the ultimate goal remains to deliver targeted assistance while balancing fiscal responsibility with the immediate needs of the population.