For how long will the government be indifferent to inflation?

Statement by AKEL C.C. Spokesperson Giorgos Koukoumas

1 June 2024, AKEL C.C. Press Office, Nicosia

Eurostat has released figures showing that Cyprus had the second highest increase in inflation across the Eurozone, but the government still hasn’t been moved.

AKEL will not stop putting pressure on the government first of all to sense what is happening in society and then to realise that substantive and drastic measures need to be taken here and now. Reducing the excise duty on fuel and extending the subsidy on electricity are the two immediate measures that need to be urgently taken. At the same time, AKEL’s proposal for the taxation of the exorbitant profits recorded by the banks can increase the state’s revenues so that the interest rate for the housing loans of the middle and low-income strata is subsidised.

The overwhelming majority of our society – working people, the middle strata, small businessmen, pensioners – are being squeezed more and more every day by the high cost of living, rents, interest rates and low wages.

How long will the government continue to be indifferent to inflation and price increases, as well to all the burning issues society is facing?

1.06.2024