Dialogos

Economy at Risk from Middle East – AKEL Calls for Immediate Intervention

Published March 4, 2026, 09:02
Economy at Risk from Middle East – AKEL Calls for Immediate Intervention

Charis Polycarpou, head of AKEL's economic sector, emphasized that the war in the Middle East has an immediate impact on energy costs and that economic repercussions are expected in the coming weeks. He called on the government to prepare to address these impacts, particularly on middle and low-income groups. He proposed support measures such as tax reductions for vulnerable groups, a permanent reduction in VAT on electricity, and the abolition of double taxation on fuels. Additionally, he pointed out the lack of planning in the energy sector and the need to accelerate the introduction of Renewable Energy Sources (RES).