Society’s calls for action to be taken are being ignored

 

5 September 2023, AKEL C.C. Press Office, Nicosia

The latest Eurostat estimates refute those who insist that the continuous increases in interest rates will solve the problem of inflation and inflation.

High prices for food, electricity and fuel are not only not coming down, but are recording significant increases, nibbling away at the already limited disposable income of households and businesses.

The government, after having terminated the electricity and fuel subsidy measures, continues to follow the situation in bewilderment, with no plan in place to address the problem.

Society’s calls for measures to be taken and AKEL’s proposals are being ignored.

It is obvious that the continuing decline in the standard of living of society is not only due to external factors, but also to the government’s refusal to take timely, comprehensive and substantive measures.

AKEL, inter alia, calls for:

• The reintroduction of the measures on electricity and fuel.
• The implementation of an interest rate subsidy scheme for housing loans.

The government can find the necessary resources to take measures to support society from the increased revenues it has accumulated due to the high prices and expensiveness, but also from the taxation of the exorbitant profits that are recorded in certain sectors, including the banks and energy companies.