Τhe reduced tax rate on fuels will remain in effect in Cyprus for another two months, until August 31, following a decision approved on Wednesday by the Council of Ministers.
The measure is estimated to cost the Cypriot state budget a total of €12 million.
Cyprus Government Spokesman Konstantinos Letymbiotis said in statements from the Presidential Palace that when extending the application of the measure, one of the factors taken into consideration was that despite the trend of energy prices falling, they are still at higher than normal levels due to geopolitical developments.
In his statements after the cabinet meeting, Letymbiotis recalled that the measure for the reduction of the consumption tax had been implemented following a decision of the body on March 26.
It has been in effect since last April, and was part of a total package of eight measures of support, totaling €200 million.
