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Govt readies additional inflation relief package, draws up new budget
PoliticsGreek PoliticsThe government is set to announce later this week the enhanced package of relief measures aimed at cushioning the impact of the war in Ukraine on Greek businesses and households but also insulating New Democracy from potential voter dissatisfaction.
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Greece voices support for Ukraine as govt counts cost of war's impact on economy, public finances
PoliticsGreek PoliticsPrime Minister Kyriakos Mitsotakis has made it clear that politically his government will stand with the European Union and NATO over Russia’s invasion of Ukraine as his ministers scramble to find ways of mitigating the economic impact of the war.
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PM pledges more support as he seeks to resist inflation, pandemic threats
PoliticsGreek PoliticsThe government is searching for a way to break out of the corner in which inflation and its own missteps have placed it, with the drive being led by Prime Minister Kyriakos Mitsotakis who promised more financial support for consumers as well as further tax cuts over the weekend.
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Rising yields, market turbulence limit government's fiscal options
EconomyIt seems that the Finance Ministry toying with the idea of countering inflation by reducing VAT and special consumption taxes on fuel and basic goods only lasted about a week, partly due to developments on the bond market, which have been exacerbated by the ECB signalling last Thursday that it is set to tighten monetary policy this year.
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Opposition cries foul on government's tax priorities
PoliticsGreek PoliticsKyriakos Mitsotakis’s announcement of a permanent cut to the controversial ENFIA property tax has been picked apart by opposition parties who are questioning whether it will have a significant impact on the tax burden of most homeowners.
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Greece aiming to complete post-bailout monitoring this summer
PoliticsGreek PoliticsAs a cold snap gripped Greece on Monday, the government had more than one reason to look towards the summer, when it hopes that the post-bailout monitoring by creditors will come to an end.
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Draft 2022 budget represents first attempt to restore post-pandemic fiscal order
EconomyMacroeconomyFollowing two years during which Greece was allowed, thanks to the SGP escape clause, to run substantial deficits to protect its economy from the impact of the pandemic, 2022 sees some sense of fiscal order returning based on the draft budget submitted to Parliament on Monday.
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ND eyes more tax relief as early elections come into play
PoliticsGreek PoliticsDespite presenting a package of almost 3.5 billion euros worth of relief measures at the Thessaloniki International Fair (TIF), the government might have more measures in store – only adding to the growing feeling that New Democracy is gearing up for an early election contest.
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Govt grabs opportunity offered by escape clause to entice voters with support package
EconomyUnder pressure from developments since the beginning of August which tarnished its prized trait of competence, the government saw an opportunity to announce a sizeable support package at the Thessaloniki International Fair, hoping to change the domestic agenda.
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PM announces extensive measures to build on recovery, counter inflation and put govt on track
PoliticsGreek PoliticsProjecting the message that “Greece is changing,” Prime Minister Kyriakos Mitsotakis set out a range of measures at the Thessaloniki International Fair (TIF) on Saturday that he hopes will allow his government to turn a new page and build new momentum on the road to the next general elections.