Government Allocates €1.74 Million In Contributions For Limassol Fire Relief

by THEFUTURE.TEAM

March 18, 2026

Overview Of Contributions

General Accounting Office of the Republic of Cyprus confirmed that €1,741,849 was deposited into a dedicated account at the Central Bank of Cyprus. Funds were donated by 1,469 individuals and legal entities to support communities affected by the wildfire in the Limassol mountainous region in July 2025.

Breakdown By Contribution Size

Contributions were grouped into three categories based on size. Donations above €50,000, made by seven legal entities, totaled €775,000. A further 27 contributions ranging between €10,000 and €50,000 amounted to €611,500. Smaller donations from 1,435 individuals reached €355,349.

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Strategic Allocation Of Funds

Authorities outlined a distribution plan covering restoration and protection measures in affected areas. A Cabinet decision approved €850,000 for the purchase of 17 fire-fighting vehicles.

Each vehicle will be equipped with an autonomous fire suppression system and allocated to local community councils. Remaining funds of €891,849 will be distributed to affected communities for recovery-related projects.

Implementation And Oversight

The General Accounting Office said the allocation process will follow established procedures for transparency and accountability. Funds are intended to support recovery efforts in line with government plans.

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Cyprus Introduces €200 Million Support Measures To Cut Energy And Food Costs

by THEFUTURE.TEAM

March 27, 2026

Comprehensive Relief Measures For A Resilient Economy

The government of Cyprus introduced support measures exceeding €200 million to reduce household expenses and support key sectors. The package targets energy costs, food prices, tourism and agriculture. Measures come in response to rising costs and supply pressures. Implementation begins in April and May 2026.

Energy And Fiscal Reforms

The government will reduce VAT on electricity for households to 5% from May 1, 2026, to March 31, 2027. The measure is expected to lower energy bills. Special consumption tax on transport fuels will decrease by 8.33 cents per liter between April and June 2026. Policy targets fuel-related costs.

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Broadening The Zero VAT Initiative

Authorities will expand the list of products with zero VAT. Meat, poultry and fish will be included from April 1 to September 30, 2026. Existing zero-VAT categories already include fruits and vegetables. The government also decided not to introduce a green tax on fuels, avoiding an additional cost of about 9 cents per liter.

Sector-Specific Supports

The package includes a 30% wage subsidy for hotel employees for April 2026. Measure supports tourism businesses during the early season. Support for airlines aims to maintain connectivity with key destinations. The agriculture sector will receive subsidies covering 15% of costs for fertilizers and supplies in April and May.

Economic Stability, National Security

President Nikos Christodoulidis said economic stability remains a priority for the government. He noted that growth, fiscal balance and inflation trends support current policy decisions. Statement links economic policy with broader national priorities. The government continues to monitor external risks.

Ensuring Consumer Protection

Furthermore, the government has mandated rigorous market oversight and intensified inspections to prevent exploitative pricing during this period of economic intervention. This proactive stance ensures that the benefits of the measures directly serve the citizens without unintended inflationary impacts.

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