Nicosia, Cyprus. The Cyprus chamber of commerce and industry (Keve) said it was satisfied with a package of eight government measures aimed at supporting businesses and consumers amid rising costs linked to the ongoing conflict in the Middle East. The employers’ and industrialists’ federation (Oev) said further support was needed for the tourism industry.
Keve welcomes measures and calls for timely implementation
Keve said the fuel and electricity tax relief offered to consumers would help contain the cost of living and maintain purchasing power, adding that this would also have a positive impact on the market.
Keve stressed the importance of implementing the measures in a timely and flexible manner to ensure their effectiveness. It said it was ready to cooperate closely with the government and competent bodies to monitor the situation and promote interventions where deemed necessary.
Keve added that in a difficult situation, supporting entrepreneurship was a basic prerequisite for maintaining economic stability and social cohesion.
Oev urges more support for tourism sector
Oev said that while the measures were a step in the right direction, more could be done. It said the scope of support for the tourism sector, at first glance, did not contribute substantially given the magnitude of the consequences suffered by businesses in the sector and the challenges they face.
Oev said forecasts for the tourist year were not particularly encouraging and called for a continuous assessment of the situation.
How do you think the government should adjust its support measures for the tourism sector?