Cyprus Finance Minister Makis Keravnos said the ministry is preparing multiple scenarios to address potential economic effects linked to the ongoing conflict involving Iran. Work focuses on assessing risks to inflation, energy costs, and broader economic activity.
Monitoring Developments In A Complex Regional Landscape
Keravnos said the ministry is monitoring developments and preparing responses based on evolving conditions. Measures remain under review as authorities assess potential economic impact.
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Adaptive Policy Measures Under Consideration
Speaking after a meeting with Edek President Nikos Anastasiou, Keravnos said the ministry is evaluating a range of policy options. “At this moment, the finance ministry is processing scenarios, and we are monitoring developments,” he said. Questions were raised about possible fuel tax reductions, but Keravnos said no decisions have been made. “The measures have not yet been specified, but we are processing various scenarios,” he said.
Leveraging Experience In Crisis Management
Keravnos said the ministry is using previous experience from managing economic risks, including responses to regional conflicts. Monitoring and early policy planning have been part of the ministry’s approach over the past two years. Ongoing measures addressing cost-of-living pressures remain in place and form part of the current response framework.
An Evolving Response Strategy
Government response will depend on how the situation develops. Policy measures are expected to focus on supporting households and businesses while managing fiscal impact. The approach is based on monitoring data and adjusting policy tools as conditions change.
