
Further support to households in case of further increase in energy prices was announced by the Minister of Finance, Christos Staikouras.
“If prices remain high or prices rise further, the government may be forced – and rightly so, to intervene even more this year,” Staikouras said.
He described the reduction of the adverse effects that the energy crisis has on the family budgets as a priority.
Speaking to SKAI television about the energy crisis and price increases, Mr. Staikouras said that it is an external problem and more intense than initial estimates.
He added that “it seems to be temporary”, that it is expected to escalate in the first quarter of 2022 but may persist in energy products until the second quarter of 2022.
In this context, the Minister of Finance said that he would not be surprised if inflation reaches even 4%.
Minimum wage: Positive suggestion of Finance Ministry for a second increase
Regarding the minimum wage, Mr. Staikouras stressed that from 01/01/2022 there will be a first increase of 2% while the Ministry of Finance will make a positive suggestion for the second increase announced by the Prime Minister as “now we have safe data proving that the economy is growing “.
The budget submitted without additional interventions
The Minister of Finance clarified that the budget submitted to Parliament on Friday does not include additional interventions for any sector of the economy.
The growth of the economy is around 7% initially revised upwards compared to the previous estimate of the draft while unemployment is shrinking by about 1.5 percentage points. According to Mr. Staikouras, the budget also includes a boost in investment and exports, good private consumption and a reduction in public consumption.


Latest News

Demand for Short Term Rentals in Greece Surges Ahead of Easter
Among the most popular Easter destinations from Good Friday to Easter Monday are Corfu, Hydra, the Peloponnese, Ioannina, Patmos, Loutra Edipsou, Kavala, Thassos, and Pelion

Opposition Reacts Strongly to Greek Government Reshuffle
PASOK's spokesperson, Kostas Tsoukalas, characterized the reshuffle as a clear indication of Mitsotakis' "strategic deadlock."

Greece’s Economy Awaits Moody’s Verdict on Investment-Grade Rating
The stock market has reflected strong performance, with the general index showing resilience and a lack of inward-looking caution.

Greek PM Reshuffles Cabinet after No-Confidence Vote
The most notable changes in the Greek cabinet reshuffle include Kostis Hatzidakis being appointed Deputy Prime Minister and Kyriakos Pierrakakis taking over as Minister of National Economy and Finance.

Mitsotakis: Greece-Israel Strategic Ties Increase Stability in East Med
Greek Prime Minister Kyriakos Mitsotakis made the statement in welcoming Israeli Foreign Minister Gideon Sa'ar to his office on Thursday

Conference Tourism in Greece Targets €6-7BLN
Currently, the Greek conference tourism generates €2 billion in revenue, ranking 47th globally in terms of total turnover in the international conference industry

Greece 2nd Last in Employment Prospects in EU: ManpowerGroup Report
Contrary to the global average, Greece’s employment prospects are strongest in the consumer goods and services sector

Greece Returns to Markets Reopening 15- and 30-Year Bonds
Pricing of the new bonds is expected to be finalized today, March 13, with settlement anticipated on March 20

Research in Greece : Wasted Talent, Missed Opportunities
The symposium made one thing clear: Greece possesses the intellectual capital to compete globally, but without decisive policy reforms, its research potential will continue to be squandered.

Greek Education Ministry to Launch Free Audiobook App eVivlio
The eVivlio app offers free access to audiobooks by Greek and international authors, narrated by well-known actors.