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Economy

Greek FinMin Elaborates on Economic Measures Announced at TIF

September 12, 2022

ATHENS – Finance Minister Christos Staikouras announced on Monday that the income thresholds for granting the heating oil subsidy will be significantly increased as well as the basis for its calculation.

Specifically, the income threshold for single people is increasing to 16,000 euros from the 14,000 euros that applied last year and to 24,000 euros from 20,000 euros for couples, with an increase of 3,000 euros for each child.

At the same time, the base amount for the calculation of heating degree days is increased to 350 euros from 300 euros last year.

The allowance will be doubled for the beneficiaries who previously heated their homes with electricity and natural gas and switch to heating oil, with the base amount for heating degree days set to 700 euros.

There will also be a horizontal reduction of 25 cents per litre for heating oil.

Regarding the allowance of 250 euros that will be granted in December, this will be given to:

– 1.0 million pensioners, compared to 634,000 in April, with a monthly income of 800 euros compared to 600 euros in April.

– 35,000 uninsured elderly of the Organisation for Welfare Benefits and Social Solidarity (OPEKA),

– 172,000 beneficiaries of the disability allowance,

– 225,000 beneficiaries of the minimum guaranteed income will see a double payment

– 800,000 OPEKA child benefit beneficiaries will see an additional 1.5 installments

Beneficiaries of the “Recycle-Swap Device” programme are also increasing by 200,000 at a cost of 140 million euros.

Moreover, 250,000 farmers will be subsidised for the increased cost of fertilisers, at a cost of 60 million euros, and 50,000 breeders will be subsidised for the increased cost of animal feed, at a cost of 89 million euros.

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