The President of Cyprus, Nikos Christodoulidis, has made it clear. The government will not allow profiteering. This is happening as prices continue to rise. International and local problems are making things worse. The government will have a cabinet meeting soon. They will discuss this growing problem. It puts more financial pressure on people. Living costs are already very high.
The President spoke strongly on Saturday. He visited the Limassol region. In Paphna, he spoke with local leaders. He said the government will watch prices closely. They will also watch for any unfair behaviour. "We will not accept profiteering," he said. "We will not let anyone exploit this situation." He promised to protect people from financial trouble. "We are watching everything," he added.
Many things are causing prices to go up. Fighting in the Middle East is one reason. This conflict may affect Cyprus's economy. Energy and tourism are important for Cyprus. Experts think prices might rise again. This will make living more expensive. Cyprus also has a problem with a disease affecting cattle. This could hurt dairy exports and food production.
These problems happen while the economy has weaknesses. Cyprus imports a lot of energy. However, the government has some solutions. They have a zero VAT rate on some basic items. They also offer electricity subsidies. These help people now. The cabinet meeting will look at these actions. They may also add new ways to help the economy.