Cash buffer reserved for rainier days

Cash buffer reserved for rainier days

The government is holding on to resource reserves for possible future use, given the high level of uncertainty at present, Finance Minister Christos Staikouras said on Friday while speaking to public broadcaster ERT1.

The minister was asked whether there will be additional support measures for households and businesses after the end of the three-month package announced on Thursday.

“We are keeping back ‘fuel’ for the future because there is high uncertainty. We will support households and enterprises and are holding on to resources for the future,” he said.

Responding to the opposition’s criticism that the package should be larger, Staikouras said that “this is what we can give. We are doing the best we can based on the fiscal space and with social targeting of the vulnerable. Our priority is to support those who really need it and not everyone horizontally,” he said, calling the support package “fiscally more realistic and socially fairer.”

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