Market economics)

Cyprus proceeds with pending tax rebates

An intensive effort by Cyprus' Tax Department in recent months has resulted in rebates of over 70 million euros of excess taxes, with an additional €200 million expected to be paid, according to the head of the department, Sotiris Markides.

He emphasized that the Tax Department aims to clear all outstanding corporate and individual taxpayer rebates by the end of 2023.

Power subsidies for the industrial sector, too

Environment and Energy Minister Kostas Skrekas will on Tuesday morning announce the subsidies for February electricity consumption, which will be significantly lower than those of January, after the de-escalation of the wholesale electricity price led to a nominal kilowatt-hour price 60% below the current price.

Greek T-bill auction raises €812.5 mln

The Public Debt Management Agency successfully auctioned 26-week treasury bills on Wednesday and raised 812.5 million euros.

The total bids amounted to €1.54 billion for a cover ratio of 2.46, down from 2.66 in the previous such auction on December 28, 2022.

The yield eased to 2.40%, from 2.50% last month.

The T-bills will mature on July 28.

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