Economy · Cyprus
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2 July
An opinion piece criticizes petrol tax cuts as a populist measure favoring the wealthy.
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The Cypriot government has agreed to extend reduced excise duties on fuel until September 17, 2026, extending the measure beyond its original August deadline. This extension, which aims to provide ongoing financial relief to households, is estimated to cost the government approximately €15.5 million. The decision was announced by the Ministry of Finance following a request from various stakeholders, including consumers and businesses.
The extension was approved unanimously by the House of Representatives, which passed the relevant amendment with 38 votes in favor under an emergency procedure. This reduction allows for a tax relief of 8.33 cents per liter, which includes VAT. The president of the Cyprus Consumers Association expressed that the decision was a "very pleasant surprise," indicating its positive reception among consumers.
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