Speaking on the Third Programme, the Minister of Finance clarified that the abolition of the reduction in fuel consumption tax scheduled for March 31 will proceed as planned.
He further stated that it is Cyprus’ obligation towards the EU to abolish all horizontal consumer support measures and that the subsidy on fuel, through the reduction of consumption tax, is a horizontal measure.
Yesterday, the President of the Republic had said that the extension of existing anti-inflation support measures is under consideration or the announcement of new ones.
Makis Keravnos stated that indeed other ways are being examined to support vulnerable consumers against ongoing inflation.
However, he left no room for the extension of measures to include the reduced tax on diesel and petrol.
Upon the abolition of the reduced tax on fuels, an automatic increase of 8.3 cents per litre will occur in petrol and diesel.
