For high uncertainties and unprecedented challenges this period, warned the Minister of Finance Christos Staikouras in his introductory position for the presentation of support measures totaling 1.7 billion euros through six specific interventions.
“The cost of the unprecedented geopolitical crisis we are experiencing has already begun to be reflected in the budgets, especially of the weaker strata. The crisis is slowing down the growth dynamics – we understand the aggravation of the problems in society,” the minister said. In this context, he added, “we are activating as much as possible the tools and the fiscal space to help society, we are building a new safety net, as we did during the pandemic.”
The Minister presented six specific interventions with special care for the most vulnerable and specifically:
Intervention 1: Electricity subsidy to households and businesses increases significantly. The total cost is 640m euros for April.
2nd Intervention: We strengthen the vulnerable layers with emergency aid to a total of 1.4 households – The aid will be made before Easter. The total cost of these measures reaches 324 million euros.
Intervention 3: We subsidize the consumption of natural persons fuel and reduce the price of diesel – This is a direct fuel subsidy to citizens which covers part of the increase in prices. Individuals with up to 30 thousand euros declared income are eligible. It concerns 60 liters of fuel per month. The cost reaches 130 million euros for the total aid. An increase of 200 euros in taxis is also foreseen.
4th Intervention: The repayment period of all repayable advances increases
The discount remains in case they are returned once.
The total budget cost of these four interventions exceeds 1.1 billion euros as noted by Chr. Staikouras.
5th Intervention. ENFIA is significantly and fairly reduced – Individuals will now pay 920 million euros less than in 2018.
Intervention 6: Farmers are supported – zero rate is included in the internal combustion oil. In fertilizers the rate drops to 6% instead of 13%. The cost of interventions in the primary sector exceeds 200 million.
The total cost of the six interventions reaches 1.7 billion euros, according to the Minister of Finance.
Source: Capital
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