Nicosia:Cyprus' Finance Minister Makis Keravnos is set to participate in the Eurogroup and ECOFIN Council meetings on October 8 and 9, 2026, in Luxembourg.

According to Cyprus News Agency, the Ministry of Finance announced that the meetings will focus on significant matters such as the effectiveness of public finances, as outlined by the European Economic Governance Framework, and the impact of the energy crisis on the European economy.

Cyprus has requested a derogation on the excise duty for heating oil and supports creating additional fiscal space to help member states support citizens and businesses. On October 8, Keravnos will join the Eurogroup meeting to discuss public finance challenges and opportunities, based on a European Commission presentation. The meeting will also address energy market developments and their influence on fiscal policies.

An informal dinner on October 8 will allow ministers to discuss market integration and supervision, aiming for an agreement during the ECOFIN Council the next day. On October 9, the ECOFIN Council will address recent economic developments, the taxation of windfall profits by energy companies, and the tax compliance gap in Member States. Discussions will also cover a compromise proposal on market integration and supervision.

The Council will adopt conclusions on climate finance in preparation for COP31 in Antalya and set the mandate for the EU's participation in the G20 Finance Ministers and Central Bank Governors meeting on October 15, 2026, in Bangkok.