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Cyprus Unveils €363 Million Grant Initiative To Propel Sustainable Business Growth

by THEFUTURE.TEAM

February 20, 2026

Strategic Investment In Business Liquidity

Cyprus has embarked on a transformative funding initiative, allocating €363 million through targeted grant schemes to boost business liquidity and enhance access to finance. Energy Minister Michalis Damianos announced the measure, emphasizing its strategic importance in strengthening entrepreneurship while steering the country toward sustainable growth.

Leveraging European Programmes

During the Cyprus Entrepreneurship Competition at the 10th Annual Innovation and Entrepreneurship Forum hosted by the Anastasios Leventis Council and the University of Cyprus, Minister Damianos detailed the funding structure. Of the total €363 million, €226 million is drawn from the THALEIA programme under the 2021–2027 framework, with the remaining €137 million supported by the European Union’s Recovery and Resilience Facility and the REPowerEU plan.

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Driving Digitalization And Sustainability

The governmental schemes are crafted to encourage investments in sustainability, digital transformation, and technology adoption. Minister Damianos noted that the shift towards sustainable business models, coupled with accelerated digitalization, is central to modernizing the Cypriot economy. This strategic focus not only boosts competitiveness but also fosters a resilient and forward-thinking business environment.

Empowering Emerging Entrepreneurs

Beyond financial support, the initiative reinforces the importance of nurturing entrepreneurial talent. The Cyprus Entrepreneurship Competition serves as a catalyst, cultivating creativity and equipping participants with critical skills for advancing their ideas. Minister Damianos underscored the necessity of clear guidance and accessible tools, particularly for young entrepreneurs eager to innovate and shape their professional futures.

Commitment To A Future-Ready Economy

Embracing initiatives that fuel innovation and entrepreneurial spirit, the government is committed to building a dynamic and outward-focused business ecosystem. “Through our actions, we seek to empower people who dare to think differently and shape the future,” stated Minister Damianos, affirming the continuous evolution of programmes designed to maintain a competitive market environment.

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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.