Cost of Living Expected at 7.5–8.5%, Signal of Possible Electricity Price Increase

Speaking on Kıbrıs Postası TV, Berova noted that global crises tend to occur periodically and that recent developments have directly impacted the economy. Referring to the war and tensions in the Strait of Hormuz, he said, “Just as we were moving into a position to stabilize the economy, this crisis emerged.”

He stressed that the government has been working intensively to manage the situation, warning that some decisions taken during the crisis period may cause public discomfort. Addressing criticism, Berova said, “Constructive criticism helps develop vision, but insults and disinformation are something entirely different.”

Commenting on the €200 support package announced by the Greek Cypriot administration, Berova argued that similar measures have already been implemented locally. He also pointed to South Cyprus’s public debt exceeding €25 billion and highlighted the burden of annual interest payments.

Berova said the government has taken steps to limit price increases, including resetting the Price Stability Fund, adjusting VAT last week, and revising fuel taxes this week. He noted that since the beginning of the crisis, the state has foregone approximately 130 million TL in revenue.

Emphasizing that fuel is a key input cost, he said developments are being closely monitored and additional measures are under consideration. He also criticized opposition proposals, arguing they lack concrete programs or clear roadmaps.

Addressing overtime payment disputes, Berova said payments will be made next month, despite union criticism.

On inflation, he stated that current calculations تشير to a cost-of-living increase between 7.5% and 8.5%. Turning to electricity prices, Berova noted that no increase has been made over the past year, but indicated that a price adjustment could be introduced in the near future.