Filenews 18 December 2024
The President of the Republic, Nikos Christodoulides, referred to banking issues, the Recovery and Resilience Fund, as well as the housing policy of the Government, at the beginning of today's meeting of the Council of Ministers.
Last meeting before the New Year
"Today is the last Cabinet before the end of the year," President said, informing that the next meeting is scheduled for January 3, 2025.
Banking issues and upcoming announcements
The President briefed the Cabinet on his meetings with the CEOs of Cyprus and Hellenic Bank, noting that important announcements are expected before the end of the week. Banks' interventions focus on two pillars: the reduction of charges and the regulation of interest rates, with particular attention to:
- Consistent borrowers,
- Pensioners
- Young people, especially with regard to housing policy,
- Small businesses,
- Residents of remote and mountainous areas.
It was also announced that by mid-2025, banks will allow instant money transfers between them without fees.
Update housing plans for displaced persons
The Council of Ministers approved the revision of the criteria for the housing schemes of the Care Service, increasing the income limits to cover more beneficiaries. The changes, which mainly target young displaced persons, meet the demands of the Pancyprian Union of Refugees and other organized bodies.
Recovery and Resilience Fund
The meeting included a discussion on the fifth tranche of the Recovery Fund, with the aim of completing the prior actions to advance the process to the European Commission.
Budget with a development and social dimension
The President made particular reference to the Government's second budget, which is characterized by a surplus and a strong emphasis on the digital and green transitions. The budget is expected to be approved tonight, with statements to follow from the Minister of Finance.
The meeting marked a number of important initiatives to support citizens and the sustainable development of the country.
