The Government is evaluating the measures daily and making interventions, President of the Republic Nikos Christodoulides has said regarding the higher cost of living, saying that an amount of over €1 billion has been invested to address the impacts.
In statements to journalists, arriving at the new judicial year of the Supreme Constitutional Court of the Republic of Cyprus on 6 October and asked what the Government is doing to alleviate the phenomenon of Greek Cypriots purchasing fuel from the occupied areas, the President of the Republic said that "the Government has invested an amount of over €1 billion to address the effects of the increase in prices, especially in the matter of fuel, the prices of which that are increasing due to external factors and not due to internal factors."
He described it as very fortunate that the Government has the financial capacity to intervene with support measures.
"It is a very fortunate juncture that the Government has the financial capacity, precisely because of our responsible fiscal policy, to support our compatriots," he noted.
He concluded by saying that "we are here, we are evaluating the measures, the data, the prices every day and we intervene - and I am glad, I repeat, that we have the ability to intervene - there and wherever necessary."
(Source: InBusinessNews)
