Scrap Car Subsidies Extended Until May 20

The government has decided to extend its vehicle-scrapping initiative until May 20, in which it subsidizes the purchase of new cars so that old vehicles are taken off the road; although the subsidy will be cut by 50 percent from last year.

The measure will be brought to parliament and once signed by Finance Minister Euclid Tsakalotos, it will apply retroactively from January 1. This will bring great relief to the thousands of prospective buyers who have the necessary scrapping documents, but were unable to proceed with their new purchase.

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