The ministries’ collaborative efforts for the 2025 budget aim to align with President Christodoulides’ strategic goals, focusing on longterm benefits in infrastructure, health, education, and economic growth. This transparent and meticulous approach sets the stage for progress and prosperity, reflecting the government’s vision and commitment to governance.
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In March 2024, Cyprus consumers faced steep price increases in essential goods, with olive oil prices surging by 61.7%. The Consumer Price Index highlighted that painting services and fresh fruit and potatoes also saw rises of 14.9%, 14.5%, and 12.4% respectively, while prices for other edible oils, sugar, and garden furniture dropped by 18.9%, 17.6%, and 11.8%. These fluctuations reflect the challenges consumers face in managing their budgets amidst economic volatility, requiring careful planning and adaptation to navigate the changing financial landscape.
In Cyprus, economists Charalambous and Pissarides propose a strategic shift in the government budget framework. Their reforms aim to enhance accountability, improve resource allocation, and align with EU fiscal targets for economic and social balance, setting the stage for longterm planning and sustainable growth.
