Chr. Staikouras: The Greek economy is recovering – Five actions of financial support

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The actions focused on financial support actions and the recovery of the Greek economy Minister of Finance, Christos Staikouras, during his speech in Parliament about him budget. As he characteristically stated, “in times of crisis, unity and responsibility are required, prudence and sobriety. Unfortunately, Mr. Tsipras chose the holistic path of extremism and irresponsible populism.”

“The New Democracy government is planning realistically and responsibly stepping into the real world. The official opposition uses a barren confrontation without arguments and without substantially contributing to the political dialogue. Citizens have unpleasant experiences since the previous walk became a nightmare from the constant air gaps and that is why the invitations of the official opposition fall into the void. The economy is proven to be recovering strongly in a shorter time than anticipated. Inside and outside Greece they agree that we are in the right direction. Mr Tsipras, you remain captive in a world of delusion and illusion. We have the plan and we lead the country in an environment of security and power of opportunities and perspective for all “.

Mr. Staikouras announced 5 additional financial interventions: “1st. The payment of the first of the 60 interest-free installments of the repayable advance is postponed, from 31 January 2022, to 30 June 2022.

In addition, it is possible to repay the full amount to be repaid by March 31, 2022 with a 15% discount on the amount to be returned.

2nd The expiration period of the credits issued in the Fixed Expenditure Program is extended, until June 30, 2022.

3rd The COOPERATION Program is extended by subsidizing part of the salary and insurance costs for employees, until March 31, 2022.

4ον. As we are discussing these days in Parliament, the reduced VAT rates for goods used in dialysis, as well as in personal and hygienic means for protection against viruses are extended, until June 30, 2022.

Also, the suspension of the obligation of the Chronic Dialysis Units to pay to the State 5% of the hospitalizations they receive, is extended, until June 30, 2022.

5ον. From 2022 and for 3 years, selected expenses related to green economy, energy and digitization, are deducted from the gross income of small and medium enterprises at the time of their realization, increased by up to 100% “.

“This year’s budget does not contain any new taxes and includes new additional tax rate reductions. advance tax. We have proven that we support society in every emergency and unforeseen circumstance. In this way, a sense of security and law is consolidated. The state helps all citizens, especially the most vulnerable households. We are + 388 million euros in 2021. The government’s economic policy is yielding multifaceted results that strengthen its position and prospects. 2022 will be the starting point of a growth and dynamic course. Strong economic recovery will probably be higher than 7% in 2021, surpassing the losses of 2020 early in 2022. 123,000 employees have been proposed since the beginning of the financial crisis. According to the forecasts of the European Commission, our country will present the largest pan-European increases in Investments and exports in the next two years. According to data from the European Central Bank, gross household income increased on an annual basis by 7.3% in the second quarter of 21, doubling the European average. The economic climate index is at pre-pandemic levels.

We implement measures to permanently increase the disposable income of citizens, in order to support their purchasing power.

Measures to reduce taxes and insurance contributions, as well as interventions of successive increases of the minimum wage.

At the same time, we are implementing short-term measures to deal with the energy crisis.

  • We are increasing the state subsidy on electricity and gas bills.
  • We are strengthening the heating allowance, by broadening the income and property criteria.
  • We double the amount of the minimum guaranteed income for the month of December.
  • We provide additional support to low-income retirees, increased for each protected member.
  • We provide additional assistance to people with disabilities.
  • We are launching the return of the Special Consumption Tax on diesel for farmers.
  • We reduce VAT on animal feed.

To date, the total amount of short-term interventions alone to limit the impact of cost increases on the family budget is € 1.1 billion.

Obviously, with the current data, they do not reach, since they now cover part of the growing problem.

That is why there will be additional interventions!

3rd Priority. Continue the implementation of a prudent fiscal policy, in the direction of further reducing taxes and strengthening social policy measures.

We utilize the fiscal space created by the good performance of the economy and the increase of national wealth, distributing it fairly to society.

Indicative:

  • The first stamp is given to young people who have no previous work experience.
  • Insurance contributions for new employees are subsidized.
  • OPEC is being strengthened to pay for family and disability benefits, and to fund other social activities, such as school meals.
  • Social Welfare Centers and other welfare agencies are funded.
  • The program “Housing and Work” for the homeless is being implemented.
  • The circle of beneficiary families for access to nurseries and kindergartens is expanding.

4th Priority. The continuation of the implementation of a smart publishing strategy, in order to maintain strong cash reserves, so that we are safe in any external turmoil and changes.

With initiatives such as:

  • the regular and coordinated access of the country to the money and capital markets,
  • the management of liabilities of the existing public debt portfolio,
  • the early repayment of part of the bilateral loans that Greece entered into with the eurozone countries in 2010,
  • the completion of the repayment of the loans of the International Monetary Fund.

Repayment of the International Monetary Fund started by the Government of the New Democracy, implemented by the Government of the New Democracy, and will be completed by the Government of the New Democracy.

5th Priority. Strengthening liquidity in the real economy, with policies such as, among other things, expanding the scope of companies that can potentially borrow from the banking system, and utilizing the loan portfolio of the Recovery and Sustainability Fund.

6th Priority. The implementation of structural changes, such as:

  • The tax incentives for the further increase of electronic transactions.
  • The granting of an increased discount for expenses related to green economy, energy and digitization.
  • Incentives for business growth.
  • The strengthening of the capital market.
  • The integration of the environmental dimension in the Budget.
  • The overview of expenses and revenues.
  • The continuation of the utilization of public property.

Specifically, the development of the property in Gournes and the regional ports of Alexandroupolis, Kavala, Igoumenitsa and Heraklion, the completion of the tender for the concession of Marina Kalamaria, the start of the procedures for the development of Lefkara, Marina and the preparation of the tender for the re-concession of Attiki Odos “.

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