Situation under review for financial support amid regional crisis

The situation in the Middle East and its impact on fuel and energy prices is being continuously monitored, government spokesperson Konstantinos Letymbiotis said on Tuesday.

At a media briefing at the presidential palace, Letymbiotis said decisions would hinge on both the effects in Cyprus and the wider global impact and duration of the regional crisis.

“The latest information shows that the price of unleaded 95 gasoline in Cyprus is currently the second lowest in the European Union, while diesel ranks fourth lowest,” he said.

Regarding the possible extension of reduced VAT measures beyond April 1, the spokesman said evaluations were underway at the finance and energy ministries, with announcements to follow in due course.

Letymbiotis emphasised Cyprus’ strong fiscal margins and solid economic foundation, enabling the government to support citizens in tough times.

In response to criticism about misleading communications affecting tourism, he assured that normality prevailed in the country and acknowledged the practical support from European partners for security and stability in Cyprus.

“While flight schedules of many airlines were initially affected, the vast majority have now resumed, except for states at the epicenter of the crisis,” he said.

He added that Cyprus was a top tourist destination, with the government prioritising security for the public and promoting economic and social stability.