-
.
- Ελληνικά
Compatriots,
We are going through a critical period characterized by geopolitical challenges, uncertainty and unprecedented upheavals that affect us all. The coronavirus pandemic, the war in Ukraine and the new flare-up in our own neighbourhood demonstrate how volatile the world is and at the same time underline the need for strong reflexes on the part of states to deal effectively with multi-layered crises.
The unfolding scenario is causing a variety of implications at different levels and we are called upon to manage, always responsibly and rationally, a particularly complex situation, especially in the energy sector and the wider economy.
As a Government, we remain committed and are working for the security and well-being of our citizens, the preservation of our country's perspective, as well as stability in the wider Eastern Mediterranean region.
Ladies and Gentlemen,
The Cypriot economy remains resilient and strong, thanks to prudent fiscal policy. Its recent double upgrade and investment grade rating by Moody's, 12 years on, offers opportunities to attract quality investment and, by extension, create new jobs. Given our commitment to ensuring conditions for economic growth, I want to reiterate that for the Government, fiscal responsibility, a sound financial sector and sustained and bold reforms set the framework for the decisions we take.
Only through such responsible approaches, far from populism and wishful thinking, can we ensure growth, progress, security and, by extension, the Government's ability to pursue effective and targeted social policies.
Friends,
I am very well aware of the problems and challenges you face, I know the pressure on households and businesses.
It was in this context that, immediately after taking office, we took a series of measures to address the difficulties and challenges faced by citizens.
By way of example, I mention the renewal of the ATA agreement, the increase in welfare benefits, the increase in the low-income pensioners' allowance, the reduction of the special defence levy on the tax collected, the increase in the allowance for large mothers, the implementation of the zero rate on several essentials, the Building ZO plan and several others.
Today, assessing the evolving data, we announce a new package of targeted measures, both immediate and medium-term, to support Cypriot society.
The immediate measures include. 1. Reduction of the excise duty on motor fuels by 8.33 cents per litre for the months of November 2023 to February 2024.
3. Reduction of the excise tax on heating oil by 6.39 cents per liter from December 2023 to March 2024.
4. A 2% subsidy on the interest rate of mortgage loans taken out between 1 January 2022 and 31 December 2023 for the purchase and construction of a first home, for families with an annual income of €50,000.
5. Zero VAT rate on meat and vegetables from 1 December 2023 until the end of May 2024.
6. Rent subsidy for EE recipients with a one-off amount of €300 to those receiving a rent or mortgage interest subsidy. The amount is increased to €500 for severely disabled beneficiaries.
7. A one-off payment of €120 to recipients of disability transport allowance.
8. Extension of the child allowance for large families, covering children until the completion of their undergraduate studies for a first degree.
9. A 5% increase in the child benefit.
Ladies and Gentlemen,
The medium-term measures aim to find permanent and sustainable solutions to drastically reduce energy costs and ensure affordable housing. In particular. 1. Increasing the power of self-generation and self-consumption of electricity in businesses through photovoltaic systems.
With regard to housing policy, an issue of particular concern to the young generation of our country, through a holistic approach we are proceeding for the first time with specific planning as follows:
1. 1. Strengthening existing planning incentives for the construction of housing units, part of which will be provided at affordable rent.
3. A "Build and Rent" scheme on private land utilizing an additional building factor and tax incentives for construction and rental of affordable housing units.
4. Social Housing through the construction of housing units on specific pieces of land.
5. Allocation of plots of land in the countryside for low-income families.
6. Housing subsidy for young couples or young people up to 41 years of age with a one-off grant of €20,000 to €50,000, based on criteria.
Details of the 17 Measures I have mentioned will be made public today, while in the coming days the competent ministers will make detailed presentations.
Friends,
The measures I announced today are fully costed and within the State's budgetary possibilities. I want to reiterate once again that our actions are guided by the strengthening of the social protection network of our vulnerable compatriots and the support of the middle class, in line with my Social Contract with the Cypriot people.
I thank the political forces and social partners who have, from time to time, put forward proposals to address the current situation.
In particular, I feel the need to thank all of you, each and every citizen individually, because it is thanks to your efforts that the Cypriot economy is on a stable growth path and allows us to make substantial interventions to support households and businesses.
We continue our great effort with specific goals, with a plan and with determination. Above all, with responsibility, perseverance and a people-centred approach.
Thank you very much.
For footage click here.
(PM/AF/EXP)
Contents of this article including associated images are owned by PIO
Views & opinions expressed are those of the author and/or PIO
Source
