Cyprus Cabinet Approves €70m Cost‑of‑Living Relief Package

The Cypriot cabinet on Wednesday approved a €70 million emergency package to curb inflation and the rising cost of living, bringing total government support to roughly €160 million, according to the Cyprus Mail. The new measures extend electricity subsidies, lower VAT on essential goods and photovoltaic systems, and provide a one‑off €200 payment to 53,511 vulnerable citizens. Assistance for residents of mountainous areas will also be increased. Finance Minister Makis Keravnos said the package could be introduced because the government’s economic policy has produced budget surpluses and reduced public debt. The package follows earlier cost‑of‑living interventions, adding to the cumulative support already in place.