
Τhe positive picture of the Greek economy is threatened by high inflation, due to soaring energy costs, the Greek Finance Minister, Mr Christos Staikouras told to SKAI channel. The minister stressed that the positive picture is shaped by tourism revenues which, if they continue to increase at the same pace, may exceed those of 2019. The very high number of new investments, the high number of hires, the shrinking unemployment rate and the increased tax revenues contribute to the positive course of the economy, as well.
In addition, he stressed, household deposits continued to grow in July.
He also added that very high inflation is nibbling away at the disposable income.
The fiscal space, created during the last two months, added Mr Staikouras, will be used to support citizens in the last quarter of the year and at the beginning of 2023.
Trends in revenues
Mr Staikouras also reiterated that we have to wait for the first week of September, when the last quarter’s GDP will be released, in order to better understand the general trends in revenues.
Only in this way, we are going to understand the fiscal margins of Greece, that will be used in order to help the citizens at the end of the year.
Attention to consumption
Then, he also stressed that gas constitutes a huge problem that requires a broader European solution, while he advised citizens to be careful with consumption.
“If prices remain high, more subsidies will be needed. Therefore, additional resources will be needed to support citizens,” he said, reiterating that the Greek government is going to support the Greeks for as long as needed.
He estimated, however, that the need for subsidies in the coming months would be less than that of August and September.
New subsidies for fuels
He also left open the possibility of new subsidies for fuels, with gas being their first priority.
Concerning the heating allowance, he said that the Greek government intends to give the same amount as last year. However, he stressed that “If gas prices increase further, the state budget should be larger in order to cover the costs”.
He also said that, in 2023, the Greek Prime Minister intends to abolish the solidarity levy for the Greek state and its pensioners (an intervention of 450 million).
He also said that a permanent increase in pensions is on the way, though he did not specify the amount.
As for the minimum wage, Mr Staikouras stressed that the institutional process will be followed, in the first half of 2023, in order to conclude to the final amount of the increase, without affecting businesses.
As far as tax cuts are concerned, he added that they are permanent and he also explained that: “We want fiscal stability with permanent tax cuts so as the citizens can afford their spending on their own”.


Latest News

Electricity Bills: Greece Announces Reduced Tariffs Schedule
Greece will now offer lower electricity rates between 11:00-15:00 and 02:00-04:00

Chevron Confirms Eyeing Natural Gas Exploration South of Crete
Chevron recently declared its intent to explore a third area, south of the Peloponnese.

Evangelos Marinakis: A time of change from which shipping can benefit
Speaking at the 19th Annual Capital Link International Shipping Forum Evangelos Marinakis stressed the challenges that shipping faces today

Retail Trade in Greece Up 2.5% in December 2024: ELSTAT
In January 2025, the General Turnover Index recorded a 2.5% increase compared to January 2024. Compared to December 2024, it recorded a significant decline of 18.4%

Greek Fruit and Vegetable Exports Surge
Greek exporters have expressed concerns over a new draft law in Bulgaria that mandates at least 50% of products in stores to be of Bulgarian origin.

Trump Tower in Greece? Speculation Grows Over Potential Investment
In 2007, the Trump Organization explored the possibility of constructing a skyscraper complex and casino at the former Ellinikon Airport site in Athens

Was Aristidis Alafouzos, CEO of Okeanis Eco Tankers, cheering over extra earnings from carrying ‘sanctioned’ Russian oil?
Okeanis CEO Aristidis Alafouzos tried to give assurances that the company was not carrying sanctioned Russian oil - Recently published data point to the opposite

Tax Filing in Greece Surpasses Expectations
Taxpayers who submit their returns by April 30 will benefit from an increased tax discount of 4% if they opt for a lump-sum payment by July 31, 2025

Evangelos Marinakis: Proud of Diaspora Greeks, ‘Who’re All Together, United’
Marinakis, an Honorary Grand Marshal of the 86th Greek Independence Parade on Sunday, was touched by his contacts in New York City with members of the Greek-American community, where he spoke fondly of the Diaspora: ‘Twice as Greek, Twice over as Olympiacos fans'

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