Will the presidential candidates keep their promise to reduce inflation?

Next month, residents of Cyprus will have to choose the president of the country. The three leading candidates believe that one of the key tasks should be to contain the subsistence minimum.

Will the presidential candidates keep their promise to reduce inflation?

An inflationary crisis is brewing in the country due to the pandemic and military actions in Ukraine. Averof Neophytou, Andreas Mavroiannis, and Nikos Christodoulides assure solving this problem with the help of support measures for low-income citizens and the middle class.

The real president, Nicos Anastasiades, is not going to nominate his candidacy for the elections on February 5 after 10 years of continuous work.

The voters will have to make a choice between Averof Neophytou, the leader of the ruling party, Nikos Christodoulides, the Minister of Foreign Affairs, and Andreas Mavroiannis, a representative of the opposition.

DISY supports the Neophytou's 100 policy program, which provides for the containment of energy prices, the rapid growth of renewable energy sources, and the development of energy storage capabilities.

Neophytou said that only a coalition of countries can defeat global inflation. He believes that the solution to the problem cannot be simple and quick, because it can only harm the country's economy and lead to the state in which the country was before 2013.

The candidate noted that during the crisis, the main task is to help low- and middle-income groups. The initiative to introduce tax benefits for citizens with incomes from 19,500 to 28,000 euros per year becomes a key element in its program.

Mavroyannis stated that his main task is to ensure a decent standard of living for all citizens of the country.

The candidate's manifesto notes such support measures as the introduction of subsistence allowances up to the level of 2013 and the installation of photovoltaic systems in homes with a subsidy of up to 100%.

One of the measures to reduce the current cost of living, which reaches high levels, will be working with the European Union to determine flexible conditions for tax cuts, in particular, the consumption tax.

In addition, the candidate declares the need to reduce the VAT to 9% after the current government increases it by 10 months to 19%.

The candidate's program includes the abolition of the fuel double taxation system as well as the introduction of a tax on the excess profits of energy companies.

Christodoulides also promised to pay special attention to measures to support all categories of citizens and companies that have become victims of high inflation.

The candidate believes that first of all it is necessary to change the living wage and introduce a policy of suppressed speculation.

He believes that in the near future the Central Bank will be considered a reliable body for establishing price stability against the background of the macroeconomic situation and the policy of the European Central Bank.

Targeted financial assistance will be provided to low-income citizens, taking into account the growth of inflation and budgetary opportunities.

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