We predicted the pandemic, but we did not predict the war, nor could we, said Deputy Finance Minister Theodoros Skylakakis, developing the government’s amendment to the supplementary budget of 2.6 billion euros, which was submitted to the bill in which incorporates in Greek legislation, a series of European directives. We would not do it, we were not allowed to do it – even if we assumed it in our minds – to make a Budget, with the basic premise that Putin would wage war in Ukraine and talk about a change in international economic relations with huge sanctions, with a planned severance of energy relations between Europe and Russia, said Mr. Skylakakis, commenting on relevant reports of the opposition: “If you bring me here Calchas who foresaw all this, we will give him the prize of the Delphic Oracle” he said characteristically.
Speaking, in particular, about the pandemic, Mr. Skylakakis said that his previous statement that “as an economic consequence will cease to concern us” is valid. [..] There may, unfortunately, still be a health consequence [..] “but as a major economic variable that has a large impact on revenues or expenditures of the State Budget after the first quarter, which we also covered some expenditures of previous years, it does not affect.”
As for how the Supplementary Budget will be used, Mr. Skylakakis said that the 600 million concern the co-financed part of the public investment budget.
Of the rest, Mr. Skylakakis continued, 590 million relate to expenditures that we have already announced and will be legislated in the near future: It is 142 million for the low-income pensioners and the uninsured elderly, 33.9 million for the disabled, 50, 9 million for the Minimum Guaranteed Income double installment, 97.5 million for the one and a half times the Child Allowance, 130 million for the Fuel Card, 23 million for the diesel aid, 6 million for the 200 euros in taxis, 47 million to farmers and 60 million for diesel to farmers.
The rest are possible, in addition, expenses that we have to do, mainly for those that we can predict, but we can not predict the amount, It is the increased expenses for electricity and fuel in the State, [..] and then the rest will go to other costs that will certainly arise in the near future, as we need to help society cope with this wave of precision brought to us, primarily, by the Russian invasion of Ukraine.
According to the Deputy Minister of Finance, this money comes, in part, from the nominal GDP. which will be higher than what we had forecast in the budget due to the level of inflation. “It is clear that this money that will come from increased GDP due to nominal prices will be returned to society and another part will come from a small increase in the deficit which we will see as a first forecast on April 30. , when we will submit the medium term “.
Source: Capital
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