Cyprus Delays Carbon Taxes to Shield Consumers

Cyprus plans to delay or limit new carbon taxes on water and fuel to prevent a financial burden on consumers. President Nikos Christodoulides emphasized ongoing discussions with the EU to manage the impact while maintaining eligibility for the Recovery and Resilience Facility.

Cyprus is seeking to delay or scale back the introduction of new carbon taxes to spare consumers from rising costs on water and fuel. In a recent interview with Omega TV, President Nikos Christodoulides shared these intentions to protect citizens from financial strain.

The president highlighted the administration's ongoing negotiations with the European Union to mitigate the immediate financial impact of these levies while still advancing the nation's green transition plans under the region's Recovery and Resilience Facility (RRF).

Approved in 2021, Cyprus's RRF budget amounts to 1.2 billion euros. Despite the potential loss of funds from the EU, the government remains committed to shielding the public from higher bills resulting from the proposed environmental taxes.

(With inputs from agencies.)