Greece Extends Reduced VAT on Household Electricity to Ease Energy Costs Until 2027

by THEFUTURE.TEAM

February 6, 2026

Government Decision Bolsters Household Incomes Amid Rising Energy Costs

The Greek government has decided to extend the reduced Value-Added Tax (VAT) rate on electricity for households until March 31, 2027. The decision was approved during a recent cabinet session as part of continued efforts to ease financial pressure on consumers.

Rationale Behind The Measure

Following the meeting, Finance Minister Makis Keravnos stated that the reduced VAT rate had originally been set to expire on March 31, 2026. However, with electricity prices remaining broadly in line with last year’s levels, the government opted to prolong the measure for an additional year. The move is intended to help households manage their monthly expenses against the backdrop of persistently high energy costs.

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Fiscal Impact And Broader Policy Objectives

The extension is expected to cost the state approximately €40 million. Officials describe it as part of a wider strategy to cushion the impact of energy prices and strengthen disposable income for families. Maintaining the lower VAT rate is seen as a stabilising step during a period of ongoing economic uncertainty.

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Bank Of Cyprus Launches Cybersecurity Programme For Students In Limassol

by THEFUTURE.TEAM

March 31, 2026

Bank of Cyprus launched a cybersecurity initiative in Limassol as part of its “The Young Ask and Provide Solutions” programme, involving students in simulated cyberattack scenarios. The programme focuses on practical training in cyber defense and awareness of risks linked to digital infrastructure.

Innovative Collaboration And Real-World Challenges

In partnership with the Education Ministry and non-profit organization TechIsland, the programme provided a robust platform for young minds to confront realistic cyberattack simulations. Held at the modern Limassol regional offices of the Bank of Cyprus, the interactive space enabled 60 secondary school students from across the region to collaboratively tackle the complex threats facing national digital infrastructure.

Practical Exercises And Strategic Insights

Participants took part in workshops built around cyberattack scenarios. Tasks included identifying prevention strategies, planning response measures, and proposing public awareness approaches. The exercises focused on coordination and decision-making during cyber incidents.

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Empowering Tomorrow’s Leaders

According to Elli Ioannidou, the programme is designed to combine theoretical knowledge with practical experience. She said the initiative aims to help students understand real-world challenges and develop problem-solving skills. Additional input was provided by Marios Stavrou, who noted that managing cyber incidents requires coordination across multiple teams and functions.

Building A Resilient Cyber Ecosystem

Experts, including Mathaios Panteli and Tanya Romanyukha highlighted the importance of early digital skills and cybersecurity awareness. Their comments focused on preparing the future workforce skills needed for managing digital risks. The programme forms part of broader efforts to strengthen cybersecurity awareness and education in Cyprus.

The Bank of Cyprus remains committed to investing in forward-thinking initiatives that inspire youth and enhance community awareness. Through these targeted efforts, the bank is not only addressing immediate security challenges but also contributing to a future where advanced technology and robust cyber defense mechanisms coexist seamlessly.

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