Government pledges support for low and middle-income groups
Supporting the vulnerable and low and middle-income groups is a priority, government spokesperson Konstantinos Letymbiotis said on Saturday.
“It is paramount at this time that we as a state, as a government, provide citizens, consumers, especially the vulnerable, with all the tools to enable them to cope with inflationary trends.”
He pointed out that this will not be done through one measure or even through an announcement, but through a series of measures, noting that the Cabinet decision approving the commerce ministry’s proposal to monitor the prices of specific products, where the consumer will have the opportunity to monitor on a daily basis what the market looks like and what the lowest price of a product is.
According to Letymbiotis, this will help to reduce prices, as has been done in other countries that have used this tool.
He added that in the same direction the government is examining the reduction of the VAT rate on specific products, adding that these measures will also work together to provide partial relief to households.
Letymbiotis stressed that among the government’s immediate priorities is the support of vulnerable groups, as well as low and middle-income groups, which have been hit heavily. The government is also considering further measures, he noted.