The Cypriot Ministry of Finance announced state aid measures for citizens and businesses during the January lockdown. The head of the ministry, Konstantinos Petrides, noted that this is the largest support package since the beginning of the COVID-19 pandemic.

The budget of the country allocated 130 million euros to support the working population and the unemployed. Employees of hotels and companies, whose work was cut by 30-80%, will receive 60% of their salaries, ranging from 360 to 1214 euros per month. Employees of private companies with dependent children under 15 years or children of any age with disabilities will receive targeted leave at 60% of monthly earnings (but no more than 1214 euros).
For the unemployed there are payments of 500 euros per month.

The state budget will cover rent or installment payments for businesses. Firms whose revenues fell by more than 35% in 2020 will be paid up to 300,000 euros. Catering organizations with a drop in turnover of 36.5% or more will receive a subsidy of 8,411 euros.

Benefits are also provided for self-employed Cypriots, whose income in 2020 fell by more than 35%. Self-employed people whose annual income in 2020 did not exceed 15,600 euros can also count on support in the format of 50% of monthly income.

The Ministry of Finance has also promised to extend tax breaks for landlords who voluntarily reduce rents from January to March 2021, and to cover interest on business loans and mortgages from January to June.