Statement by AKEL C.C. Spokesperson Giorgos Koukoumas
There are ways and resources to protect people from inflation and expensiveness

19 April 2024, AKEL C.C. Press Office, Nicosia

The cost of living is pushing society to such a point that even the Democratic Rally DISY party discovered yesterday that price increases and expensiveness do actually exist in Cyprus. The Christodoulides government continues to be out of touch with the reality households, small businesses and the middle strata of our country face. It proudly continues to implement Anastasiades’ economic policy.

Of course, it would be futile to expect solutions to combat expensiveness from those who are on the side of powerful economic interests and the banks.

AKEL insists and reiterates that there are ways and resources to protect people from inflation and the new fuel price increases. As the force of assertion for the big social majority of the country,

AKEL is fighting for drastic measures to deal with price increases, but at the same time, it is also pointing out to the government the resources to finance these measures. Pointing out that it should allocate part of the increased – due to inflation – state revenues and, at the same time, to tax the exorbitant profits of the banks and energy companies.

These resources can be used for real measures to be taken to support society, such as reintroducing fuel subsidies, reducing VAT on electricity and subsidising mortgage interest rates for low and middle-income groups.


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