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Next Previous Over € 300 million measures against government precision HOME • INSIDER • CYPRUS • Over € 300 million measures against government precision
& nbsp & nbspInsider & nbsp; & nbsp;
More than € 300 million is the measures taken & nbsp; or are in the government's plans to implement & nbsp; precision restraint covering a wide range of social media.
READ ALSO: & nbsp; How to tame inflation – oil is the key?
According to government sources & nbsp;, on the instructions of the President of the Republic, following the meeting held on 20/05/2022, meetings were held under the chairmanship of & nbsp; Minister of Finance with the Ministers and Undersecretaries involved in order to finalize the additional measures to deal with inflationary pressures and accuracy.
After evaluation of the submitted proposals, the Ministerial approved the adoption of additional extraordinary targeted measures, amounting to € 103m. which will mainly, but not only, alleviate the most vulnerable groups of the population. This package follows the measures already taken by the Government with the start of inflationary pressures, amounting to over € 193m.
Therefore, they note, & nbsp; the total amount that will be spent up to on 31 August 2022 to deal with inflationary pressures and accuracy amounts to almost € 300m, an amount equivalent to 1.5% of the GDP of the Republic of Cyprus
Stresses that these measures are fully in line with the guidelines of the European Commission but also in accordance with the budgetary capabilities of the state, so as not to jeopardize fiscal stability.
Support for retirees Below is the new package of measures that includes 14 meters with a total cost of € 103m.
Adjustment of pensions to receive & nbsp; increase inflation.
From July 1, it is estimated that the pensions of 165,200 beneficiaries will increase by about 4.3% (the final rate will be determined according to the level of inflation for the months of May and June 2022).
& nbsp; that from 1/1/2022 an increase of 1.22% has already been given to pensions and other benefits, based on the increase in the average insurable earnings of 2021 compared to those of 2020, as provided by law. & nbsp; Therefore, the increase that will be granted from July 1, 2022 will be the second for this year.
& nbsp; Support for vulnerable groups
& nbsp; One-time granting of support to support vulnerable groups of the population (they cover the period until 31/08/2022). Details:
In all family units, which are recipients of child allowance and have an annual gross income of the previous year, up to € 10,000, a lump sum of € 150 will be paid for each child up to 18 years old.
In all family units, which are recipients of child benefit and have an annual gross income of the previous year, from € 10,001 to € 19,500, will & nbsp; a lump sum of € 120 is paid for each child up to the age of 18. & nbsp;
All family units, which are recipients of child benefit and have an annual gross income of the previous year, from € 19,501 to € 29,000, with 3 or more children, will be paid a lump sum of € 100 for the third or additional children under the age of 18.
All family units, which are recipients of child benefit and have an annual gross income of the previous year from, € 29,001 to € 39,000, with 3 or more children, will be paid a lump sum of € 80 for the third or additional children up to 18 years old. & nbsp;
All family units, which are recipients of child benefit and have an annual gross income of the previous year, from € 39,001 to € 49,000, with 3 or more children, will be paid a lump sum of € 60 for the third or additional children up to 18 years old. A total of 24,075 families with a total number of 45,883 children will benefit from the above measures.
& nbsp; All family units, which do not fall into the above categories, which are beneficiaries of the Minimum Guaranteed Income or Public Assistance and do not have dependent children under 18, will be paid a lump sum of € 100 for the beneficiary, € 50 for the beneficiary's spouse, and € 25 for each beneficiary's child belonging to the family unit. The measure is expected to benefit 18,454 beneficiaries, 2,401 beneficiaries and 2,232 spouses of applicants. & nbsp;
All persons with disabilities who do not fall into the above categories, who are beneficiaries of benefits from the Department of Social Integration of Persons with Disabilities (blind, quadriplegic, paraplegic, severe mobility disability, recipients of trafficking allowance) will be paid a lump sum of € 100 . It is expected that 4,750 people with disabilities will benefit from this measure. A total of 73,720 people will benefit from a one-time sponsorship. & nbsp; Please note that the lump sum will not be taken into account in calculating the total income to determine the entitlement or income category that each beneficiary falls under the scheme already participating.
& nbsp; Immediate announcement (effective from September 2022) of a Care Grant Scheme for children up to 4 years of age to subsidize tuition and feeding in nurseries 16,000 potential beneficiaries, with the monthly allowance amounting to 80% of the amount of tuition and feeding, subsidized by & nbsp; € 100 to € 350 per month for each child, based on criteria that take into account the number of children, among others.
& nbsp; More details will be announced by the Ministry of Labor and Social Security and the Ministry of Social Welfare .
& nbsp; Electricity measures
& nbsp; Extension of horizontal and targeted measures to reduce VAT on electricity by 31 August 2022.
That is, reduction of VAT from 19% to 9% for household consumers and from 19% to 5% for vulnerable consumers.
Increase of the subsidy of the beneficiaries of the Plan for installation of photovoltaic systems and thermal insulation of the roof
For vulnerable Consumers: from € 750 to € 1,000 per installed kw, and For household consumers: from € 250 at € 375 per installed kw.
Expanding the list of vulnerable energy consumers by joining it, additional 19,500 family units with annual gross incomes up to € 19,500 to benefit from an increased subsidy from the Renewable Energy and Energy Saving and Energy Saving Sponsorship Plans. More details will be announced by the Ministry of Energy, Trade and Industry.
& nbsp; Increase from 90% to 100% coverage & nbsp; of the annual electricity consumption of the premises for own consumption of the electricity produced by the photovoltaic system for household consumers and businesses. Therefore home consumers and & nbsp; Businesses will be able to meet all their electricity needs through the installation of photovoltaic systems, which makes the investment more attractive as the depreciation period and the cost of electricity are reduced. Accelerate and simplify the licensing procedures for the installation of RES systems so that the building permit for the installation of a RES system is considered granted in cases where there is already a planning permission.
For fuel
< p> & nbsp; Extension of the measure of reduction of the excise tax on diesel fuel and heating oil until 31 August 2022
& nbsp; Support measures for the sector of agriculture and livestock
& nbsp; Support of recognized Groups and Producers Organizations in the crop production amounting to € 700,000 to cover part of their operating expenses.
Additional support & nbsp; livestock and agriculture with an amount of € 8.8m in order to cover part of the price increases due to inflationary pressures
This is new support, in addition to the amount of € 8m approved on 13 April 2022 by the Council of Ministers. & nbsp; & nbsp; & nbsp;
Additional measures/initiatives
The Council of Ministers decided to intensify inspections to combat profiteering. In the event that any phenomena of scandal are observed, the Government will proceed with the imposition of a ceiling. in relation to 19s/kwh which is the current price. & nbsp; This decision will concern the RES projects included in the Plan with a final outcome in the competitive electricity market.
It also calls on the House of Representatives to proceed with the immediate adoption of the bill that is pending before it for a long time in order to implement the Government's decision to reduce the consumption fee of the RES Fund to 0.1 s/kw from 0.5 s/kw that is today. .
Measures already taken – Over € 190 million
Reduction of VAT on electricity consumption.
(α) & nbsp; From 19% to 5% for vulnerable households. & Nbsp; It was implemented from November 1, 2021
(b) & nbsp; Horizontal reduction from 19% to 9% for other households.
Implemented from November 1, 2021 & nbsp; (with the new decision continue until 31/08)
Reduction of the excise tax on motor fuel and heating.
(a) & nbsp; & nbsp; & nbsp; & nbsp; & nbsp; & nbsp; & nbsp; & nbsp; Diesel fuel (petrol and diesel): At 8.33 cents per liter
(b) & nbsp; & nbsp; & nbsp; & nbsp; & nbsp; & nbsp; & nbsp; & nbsp; Heating fuel: At 6.39 cents per liter.
Time Period for both projects: March 8, 2022 – June 1, 2022 (with the new decision continues until 31/08)
Livestock Support.
(α) & nbsp; & nbsp; & nbsp; & nbsp; & nbsp; & nbsp; & nbsp; & nbsp; Sheep and goat farmers: € 5 million.
(b) & nbsp; & nbsp; & nbsp; & nbsp; & nbsp; & nbsp; & nbsp; & nbsp; Cow breeders: € 1.2 million.
(c) & nbsp; & nbsp; & nbsp; & nbsp; & nbsp; & nbsp; & nbsp; & nbsp; & nbsp; Pig farmers: € 1.4 million.
(d) & nbsp; & nbsp; & nbsp; & nbsp; & nbsp; & nbsp; & nbsp; & nbsp; Purchase of 36 thousand tons of barley and maize to cover stocks of feed materials. The stock will be made available to farmers if there is a shortage of feed, for a fixed price: € 18 million. granting an additional allowance to all beneficiaries who due to an increase in their pension in 2021 had a consequent reduction of the allowance for the year 2022, so that they do not receive less than what they received the previous year.
Effort cover the loss of non-arrival of 600,000 Russian and Ukrainian Tourists by implementing the Granted Holiday Program for the period 1 May 2022-31 July 2022. Participating tourist accommodation with a maximum price of accommodation in a double room with breakfast will be € 100. The Government will subsidize € 20 per room per day and the beneficiaries are all permanent residents of the Republic.
Support to Airlines to enhance connectivity and develop aviation.
Support for mountain dwellers.
(a) & nbsp; & nbsp; & nbsp; & nbsp; & nbsp; & nbsp; & nbsp; & nbsp; Financial assistance plan for residents living in communities with an altitude of over 600 meters. 2022: € 4.5 million.
(b) & nbsp; & nbsp; & nbsp; & nbsp; & nbsp; & nbsp; & nbsp; & nbsp; Concession to these residents in January 2022 one-time emergency financial assistance of € 2.1 million (50% of the amount given to them in 2021).
(c) & nbsp; & nbsp; & nbsp; & nbsp; & nbsp; & nbsp; & nbsp; & nbsp; & nbsp; Financial assistance plan for support living at least 40 km from the urban center. 2022: € 3 million.
& nbsp; Announcement on 04 April, 2022 of the revised Housing Rehabilitation Plan for specific rural areas.
& nbsp; Expansion of the list of beneficiaries for free transport by public transport including escorts for the blind or in wheelchairs, in the presence of accompanying persons, as well as special population groups agreed between the Contracting Authority and the Concessionaire.
Early repayment of a Marine Agent loan from the state (amounting to € 4.5m) currently being repaid through an increase in the container loading and unloading fee at the Port of Limassol, in order to absorb part of the increases and to achieve a reduction in the transport costs of the containers and consequently the prices./p>
Reduction of fees charged for low value products
Adjustment of fees for low value goods during their unloading at the Port of Limassol, so that there is a substantial reduction , ensuring the competitiveness of products. & nbsp; Charges for low value products are reduced to € 150/20-foot container and € 213/40-foot container, from € 214/20-foot container and € 328/40-foot container, respectively.
& nbsp; Market liberalization in terms of access to the provision of ground handling services at the airports of the Republic, achieving a reduction of the cost of services by 40%, increasing the attractiveness of the country's connectivity.
Partial replacement of salaries in the public and wider public sector from 1.1.2023 through the automatic indexation of salaries and allowances.
