x

Economy

Fiscal Relief for Greeks? Maybe There is, Maybe There isn’t

ATHENS – After saying there wasn’t enough money to provide Greek households struggling with rising costs from energy to food and gasoline, Finance Minister Christos Staikouras said maybe there is after all.

Prime Minister Kyriakos Mitsotakis has turned his attention away from the lingering COVID-19 pandemic to key on a faster economic recovery after his New Democracy government poured scores of billions of euros into helping laid-off workers and closed businesses during lockdowns.

Now aid is being offered up to 80 percent of the cost of electric bills that have nearly doubled, exacerbated by the aftermath of the Russian invasion of Ukraine that’s still going on, affecting world markets.

Staikouras said Saturday that his ministry is “seeking fiscal leeway” for new support measures in July, to relieve the pressure from rising costs for households, said Kathimerini about the shifting government positions.

He said the ministry will know by June’s end whether more can be done on rising fuel prices but added that “not much can be done” about the unified tax on fuel that he said can’t be cut.

“If we were to reduce this tax by 20 cents of a euro the overall cost for the state would reach 20 billion euros,” he said, with most of the cost of gasoline for consumers being taxes.

He said buffers had been spent cutting the hated ENFIA property tax surcharge and electric bill costs although the government has diverted an untold amount of money from 32 billion euros ($34.3 billion) to telecommunications and 5G projects instead of helping consumers.

He also said that also reducing a solidarity tax which required wage earners to pay benefits to the most vulnerable would cost another 450 million euros ($482.35 million) as a further drain on resources.

RELATED

MADRID - NATO is significantly reinforcing its eastern wing in order to be able to present a deterrent force against any ambitions Russia may harbour against member-states of the Alliance, Prime Minister Kyriakos Mitsotakis said in a press conference on Thursday, after the conclusion of a summit meeting by NATO leaders in Madrid.

Top Stories

General News

FALMOUTH, MA – The police in Falmouth have identified the victim in an accident involving a car plunging into the ocean on February 20, NBC10 Boston reported.

General News

NEW YORK – Meropi Kyriacou, the new Principal of The Cathedral School in Manhattan, was honored as The National Herald’s Educator of the Year.

General News

PHILADELPHIA – The Federation of Hellenic Societies of Philadelphia and Greater Delaware Valley announced that the Evzones, the Presidential Guard of Greece will be participating in the Philadelphia Greek Independence Day Parade on March 20.

Video

Woman Fatally Shot while Pushing Stroller on Upper East Side

NEW YORK — A 20-year-old woman was fatally shot Wednesday night while she pushed her infant daughter in a stroller on the Upper East Side, police said.

Enter your email address to subscribe

Provide your email address to subscribe. For e.g. abc@xyz.com

You may unsubscribe at any time using the link in our newsletter.