Mitsotakis: €4 Billion Spent to Counteract Imported Inflation

ATHENS – Prime Minister Kyriakos Mitsotakis began his address at Tuesday’s online cabinet meeting by referring to the war in Ukraine and its painful repercussions. He noted that “global problems demand global solutions but, at the same time, they also demand national measures”.

The prime minister went on to speak about the prospect that Greece may play a key role in the new energy map that is emerging in the Eastern Mediterranean. He noted that “the Greek proposal for joint purchases and storage of natural gas in the name of all EU member-states” was on the table, as well as the “truly complex procedure for controlling the wholesale price of the natural gas, which is ultimately what determines the price of electricity in all European countries.”

Mitsotakis also spoke about the measures adopted to counteract profiteering, underlining that the government has proven in practice that it does not hesitate to act in defence of the citizens’ interests and to intervene, where necessary, to control market impunity. He noted that the measures taken to alleviate imported inflation amount to four billion euros so far and continue in four directions:

– Supporting the income of the most vulnerable groups with a one-off 200-euro benefit before Easter

– coverage of a significant part of the increase in electricity rates

– subsidies for fuel

– special provisions for the small and medium-sized enterprises, for farmers and transport.

“For now, two things are certain: first, there is absolute sufficiency [of goods] in the market and, secondly, there will be intensive checks of the market to avert phenomena of profiteering,” the prime minister assured ministers.

He also referred to the law for upgrading universities: “[Public] education was always ….in Greece, a key conveyor belt of social mobility. It has a duty to offer everyone real tools for advancement. I would also say that it is a field where liberal thought contends against the dogma of stagnation. This is, therefore, the reason why this reform is so important”.


ATHENS - Greek Prime Minister Kyriakos Mitsotakis’ hopes of accelerating an economic recovery during the lingering COVID-19 pandemic are facing five hurdles even as it is still being monitored by the Troika of European bailout lenders.

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