Staikouras: Greek Gov’t Support Measures to Reach €15B This Year

ΑΤΗΕΝS — The Greek government's package of support measures will reach 15 billion euros this year, double from initial estimates of 7.5 billion, raising the value of the two-year support packages to 39 billion euros, Finance Minister Christos Staikouras said on Monday.

In comments made to ERT1 state television, Staikouras outlined the framework of short-term policies designed to support the restart of the economy, such as: the "Gefyra II" programme subsidising bank loans for individuals and enterprises, subsidising fixed overheads of enterprises with 500 million euros in the first programme and another 500 million in the second programme. Offering state loans worth more than 1.0 billion euros to enterprises. Staikouras said that around 53,800 enterprises in the food service sector will receive 167 million euros. Other support measures included financial support through EU funds, social tourism, suspension of tax and social insurance payment.

The Greek finance minister said he was "realistically optimistic" that the institutions' assessment of the 10th report on the Greek economy will be positive, paving the way for the disbursement of around 700 million euros to Greece. He said that both the fiscal deficit and the public debt will be higher this year due to lower revenue and higher spending on support measures but that after 2022 there will be fiscal balance as economic growth will gather pace. He noted that the country's public debt was sustainable since 2012, with very low servicing costs.


ATHENS - The European Commission has revised its forecasts for the Greek economy downwards, envisaging a GDP growth of 3.

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.


Mitsotakis Meets with Biden at the White House (Video)

WASHINGTON, DC – Greek Prime Minister Kyriakos Mitsotakis met with US President Joe Biden at the White House on Monday, in the first day of an official two-day visit to the American capital.

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.