The levels at which energy and grain prices will eventually rise due to the war in Ukraine, but also the possibility of stagflation, were described by Finance Minister Constantinos Petrides as his biggest concerns, stressing that public finances will be affected due to the developments and the plans of the Ministry of Finance will be reversed, excluding, however, the possibility that the Cypriot economy will slip into recession.
At the same time, the Finance Minister said that next Monday and Tuesday he will be at the Eurogroup and ECOFIN meetings where the impact on European economies will be discussed and announced that he will support "some thoughts" at EU level to create a fund, similar to SURE which had supported employment, "so that energy poverty can be addressed in some way".
(CNA)
CNA - Kostas Stavrinos
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