Day: October 22, 2021

News are expected on the funding of the Euro-Asia and Euro-Africa Interconnector projects by the beginning of next year, Energy, Commerce and Industry Minister Natasa Pilides has said.

Pilides, who was addressing the 12th Limassol Economic Forum, on Friday, referred to the challenges and the actions the Ministry is undertaking to meet Paris Agreement and EU Green Deal goals.

Referring to the challenges, she said that Cyprus has an isolated system with no interconnection, there is a monopoly in the electricity market and there are no storage facilities.

Source: Cyprus News Agency

Transition to Green Deal will have a very significant cost and will affect vulnerable groups of society, said on Friday Finance Minister Constantinos Petrides.

Speaking at the 12th Limassol Economic Forum he said that in the post-pandemic era, conditions have certainly been unprecedented, expressing the believe that managing economic policies from now on will be very different both for Cyprus and in Europe than in the past.

He said, “we are experiencing something that has not been predicted, a sharp increase in prices in some sectors of the economy and for the first time in many years, we are experiencing inflationary pressures”.

Source: Cyprus News Agency