The government must clarify its intentions regarding the continuation of the subsidy of electricity

Statement by AKEL Political Bureau member & Head of Economic Policy Charis Polycarpou

4 April 2023, AKEL C.C. Press Office, Nicosia

The government must clarify what it ultimately intends to do in relation to the continuation of the electricity subsidy. President Nicos Christodoulides states his intention to continue the measure, while the Ministry of Finance has no plans to extend it.

Moreover, in the supplementary budget brought before Parliament, there is no provision for such an extension. If this is the government’s final position, then the government’s first essential act with regards economic policy will be clearly oriented to the detriment of society.

The continuation of these measures is the bare minimum in the face of the enormous challenges and obstacles that the continuing wave of price hikes and expensiveness is placing before society.