President Anastasiades convened a meeting today to study measures to mitigate and address the consequences of price increases in the market.
The meeting, which will take place at 11 am at the Presidential Palace, will be attended by the Ministers of Finance and Commerce, the Deputy Minister of Labour and the Deputy Minister of Welfare.
President Anastasiades made it clear that the Government has the sensitivity and determination to help without ignoring the financial capabilities of the state. Emphasis, he said, would be placed on mitigating the problems of the vulnerable groups of the population.
The Government Spokesman had said that "we fully understand the interest and suggestions of either political parties or social partners about the phenomena we are witnessing as a result of the global economic crisis caused by the Russian invasion of Ukraine and the expected and consequent consequences of the sanctions taken against Russia. This is a new global economic crisis which all states are called upon to deal with."
He noted that "once again, Cyprus is bearing the brunt of the consequences, which to the extent of the capabilities of the Cypriot economy it is called upon to deal with. With a full sense of responsibility and always on the basis of the economic data of the state, the Government has already adopted and wants to assure the Cypriot people that it will continue to adopt a series of measures to mitigate the consequences."
Ahead of the presidential meeting, the OEB published yesterday a letter sent to the President of the Republic with its suggestions[/B] for dealing with price inflation.
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