
Energy inflation is evolving into a long term crisis, which in our country is 50% higher than in the Eurozone, threatening industry and consumers.
With inflation breaking one record after another and no sign of de-escalation in the foreseeable future, Mr. Ioannis Giotis, president of the Hellenic Food Industries Association (SEVT), in the context of yesterday’s general assembly, stressed that not “only growth but the sustainability of the food industry” is at stake, stating that the effects in the midst of the energy and geopolitical crisis are affecting production, processing, and consumers.
The cost of electricity “will not go down in the next quarter or semester to the extent that it will change the industry’s finances,” said Andreas Siamisis, CEO of Hellenic Petroleum, during the general meeting of SEVT, stressing that This is a “structural problem”, which has nothing to do with the markets or the war in Ukraine.
As he explained, “The energy crisis is a result of the decision taken to move towards a cleaner environment in dealing with the climate crisis, and whether we like it or not, it comes at a cost. At least in the short term, until we reach the needs we have as a country with renewable energy sources on a 24-hour basis.”
“Eventually energy costs will be reduced but not much,” he said.
Reduction of VAT on food
Industry is urging the government to reduce VAT on food, but also to continue supporting businesses against rising energy costs.
The entrepreneurs also pointed out the need to facilitate the import of raw materials with faster control procedures, the immediate activation of the Development Law on investments and to facilitate the absorption of European programs, while emphasizing that there should be protection from unfair practices and at the same time promoting extroversion.
“I’m not responsible”
The request of the industrialists for reduction of the VAT on food products was not answered by the Minister of Rural Development, Giorgos Georgantas, who was present at the open event of the Association, stating that it is not his responsibility, while he expressed skepticism about the performance of this measure.
The government is promoting support measures in the primary sector that will lead to the de-escalation of producer prices, the minister said, adding that this de-escalation will be transferred to processing.


Latest News

Stirring 86th Greek Independence Day Parade Down 5th Ave. Evangelos Marinakis an Honorary Grand Marshal
According to NYPD sources, the 2025 parade is expected to be one of the biggest in recent memory, with some 120 groups with 52 floats and 15 marching bands paraded from 64th to 79th streets along renowned Fifth Avenue

PM Mitsotakis Highlights Chevron’s Interest in Greek EEZ in Weekly Review
“The interest from Chevron is important because a leading American multinational chooses to invest in Greek maritime plots, thus practically recognizing Greece's EEZ in the area,” the prime minister said.

PM Mitsotakis Visits Israel for Talks on Defense, Energy, and Stability
According to sources, the meetings will cover bilateral collaboration as well as regional developments, particularly in the Eastern Mediterranean and Syria.

Pyatt stresses major Greek role in regional energy map, importance of ongoing Greek-Turkish talks
The former US Assistant Secretary of State foe Energy Resources passionately underlines importance of NATO and America's Global Alliances for US security

Applications for Child Benefit Open Again
The electronic platform for submitting Child Benefit applications, A21, will re-open at 08:00 on Monday, March 31, 2025.

Ellinikon Redevelopment Advances: Key Projects on Track
Spanning 17,000 square meters, the shopping center has already leased out 75% of its space, with an average rental price of 85 euros per square meter.

Aid Arrives as Myanmar Struggles with Earthquake Aftermath
Aid is starting to arrive after the powerful 7.7-magnitude earthquake which struck central Myanmar on Friday, causing widespread devastation and claiming over 1,000 lives.

Over 60% Greeks Own a First Home, 39% a 2nd Home: European Report
The responses from 20,000 European adults who participated in the “RE/MAX European Housing Trend Report 2024,” conducted by Opinium Research for RE/MAX Europe, highlight the evolving expectations for residential spaces

Europe’s Economic Outlook Brightens, But Caution Remains, Says Citigroup
Citi forecasts a slight increase in growth from 0.8% in 2024 to 1% this year, with further acceleration slightly above potential in 2026-27.

Greece Fast-Tracks Chevron’s Offshore Entry, Eyes Third Player
Chevron has formally expressed interest in the offshore area "South of the Peloponnese" and, as of March 26, also for blocks "South of Crete I" and "South of Crete II."