Cabinet: Extension of reduced VAT on electricity until 2027

The Cypriot Council of Ministers extended the reduced VAT rate on electricity for households until March 31, 2027, costing approximately 40 million euros. This decision aims to alleviate the burden of high energy prices and increase household disposable income. Additionally, the Council approved scholarships for graduates of Kato Pyrgos Lyceum with a grade of 17.5 or higher. This scholarship program is part of a broader governmental plan to revitalize the Tillyria region.