Cypriot Finance Minister travels to Brussels for Eurogroup and ECOFIN meetings

Cypriot Finance Minister Makis Keravnos is traveling to Brussels on Sunday, November 8, 2026, to participate in the upcoming Eurogroup and ECOFIN Council meetings scheduled for Monday, November 9. The sessions will address critical European economic issues, with a primary focus on inflation, the ongoing energy crisis, and the approval of European budgets.

A central component of the Minister’s agenda is the Cypriot government’s persistent request for a further reduction in the special excise duty on heating oil. According to official announcements from the Ministry of Finance, Keravnos has maintained recent dialogue with European Commission services regarding this taxation relief. The Minister noted that early communications with the Commission indicate a potentially positive approach toward the request.

Minister Keravnos emphasized that the government will continue to provide detailed justifications for its positions to ensure fair treatment for the Cypriot economy. Highlighting the country's record of generating fiscal surpluses and reducing debt, he expressed determination to maintain pressure until the desired policy adjustments are secured. The outcomes of these discussions are expected to influence future energy taxation policies in Cyprus.