Cyprus’ fuel prices among EU’s lowest

The Cypriot Minister of Finance, Makis Keravnos.

Cyprus continues to fertile among the European Union countries with comparatively debased substance costs, according to Finance Minister Makis Keravnos. He emphasized that increases successful substance prices are portion of a broader planetary trend alternatively than a occupation unique to Cyprus, noting that lone a fewer countries, such arsenic Bulgaria, whitethorn person cheaper rates.

The curate made these remarks pursuing a gathering successful Nicosia with the enactment of the Cyprus Workers’ Confederation (SEK). Addressing concerns astir persistently precocious prices contempt authorities subsidies, helium pointed retired that the existent support measures person lone precocious been introduced. He suggested that without the existing tax reductions, substance costs would apt beryllium importantly higher.

On nationalist finances, Keravnos explained that adjustments to the state fund are an ongoing process. Each authorities ministry manages its ain spending priorities, adapting plans successful effect to economical developments while coordinating with the Finance Ministry. He noted that proposals for changes are regularly discussed astatine the furniture level.

The curate besides referred to the Greece-Cyprus energy interconnection initiative, stating that updated evaluations are underway.