Ministry of finance: Over 1 billion euros to curb inflation since 2023

Since 2023, the Cypriot government has allocated over 1 billion euros through five support packages to mitigate the impact of inflation and the energy crisis. Finance Minister Makis Keravnos highlighted that responsible economic management and debt reduction allow the state to provide these benefits while strengthening household incomes. Additionally, a new tax reform effective from January has improved disposable income for 200,000 citizens, with over 50,000 exempt from income tax, alongside new tax deductions for families and housing investments.