President Christodoulides announces relief measures amid Middle East crisis

President of the Republic Nikos Christodoulides announced a new package of eight support measures to mitigate the economic impact of the Middle East conflict, with a total cost exceeding 200 million euros. Key provisions include a reduction in the VAT on electricity to 5% for household consumers from May 1, 2026, until March 31, 2027. Fuel excise duties will be reduced by 8.33 cents per liter from April to June 2026, and the government confirmed it will not impose the planned green tax on fuels, which would have added 9 cents per liter. Additionally, a zero VAT rate will be applied to meat, poultry, and fish from April 1, 2026, until September 30, 2026. Further support includes a 30% wage subsidy for hotel employees in April 2026 and a 15% subsidy for farmers for the purchase of fertilizers and agricultural supplies during April and May. The government also pledged ongoing support for airlines to ensure tourism connectivity. The President stated that these measures are made possible by the country's strong fiscal position and growth.