Nicosia, Cyprus. Finance Minister Makis Keravnos said the finance ministry is preparing multiple scenarios and measures to mitigate potential economic fallout from the war in Iran. He said developments are being closely monitored to assess potential effects on Cyprus.
Scenario planning and monitoring
Keravnos made the comments after a meeting with Edek president Nikos Anastasiou. He said the ministry is processing scenarios and monitoring developments, adding that plans are being prepared depending on how the situation evolves and how long the crises last.
Possible measures, including fuel taxes
Asked whether the measures under consideration include a reduction in fuel taxes, Keravnos said no final decisions have been made. He said the measures have not yet been specified, but that various scenarios are being processed and include all options.
Uncertainty over timing and response
Keravnos said the timing and nature of any intervention will depend on how the crisis unfolds. He added that what will be implemented will be determined at the time.
Experience managing crises
Keravnos said the ministry has long experience in managing crisis conditions and that developments have been monitored continuously over recent years.
How do you think the Iran war could affect businesses and households in Cyprus?