Φώτο: ΑΠΕ

Government to retain lower VAT in 2020 for islands coping with migration flows

According to an announcement from the minister's office, Mitarakis agreed with the need to support island entrepreneurship and Greek products and the urgent need for state support to the islands, such as Chios, that had faced serious challenges due to the refugee-migration crisis in recent years.

Deputy Labour and Social Affairs Minister Notis Mitarakis on Monday assured the board of the Chios Entrepreneurs, Merchants and Craftsmen Federation that the government will continue reduced VAT rates for the islands coping with heightened migration pressures in 2020, in light of the burden placed on them by heavy migrant flows.

According to an announcement from the minister's office, Mitarakis agreed with the need to support island entrepreneurship and Greek products and the urgent need for state support to the islands, such as Chios, that had faced serious challenges due to the refugee-migration crisis in recent years.

"We will actively support entrepreneurship and islandness. With reductions of tax and social insurance rates, we aim at economic growth and the creation of good-quality jobs. Especially on the islands that are today buffeted by the migration crisis, we will retain the reduced VAT rates for 2020," Mitarakis said.

He also referred to the "urgent need for quality Greek products of the primary but also the secondary sector to remain competitive and to provide incentives to today's young people to invest in the future."

RELATED ARTICLES

ENGLISH EDITION

Mitsotakis warns of risk of accident occuring between Greek, Turkish forces

Mitsotakis also stressed that Greece is also mobilizing its diplomacy, notifying friendly nations and alerting allies and partners. "We are not alone in this effort. The immediate response of the European Union to our request to convene the Foreign Affairs Council confirms that this is not purely an issue of Greek-Turkish relations. It concerns the relations of all of Europe with Turkey," he said.
ENGLISH EDITION

Greek budget records primary deficit of 8.199 billion euros in Jan-July

The preliminary budget execution figures for the seven-month period showed a deficit of 2.086 billion euros in the general government balance. The primary result for the same seven-month period in 2019 was a surplus of 1.763 billion euros. Net revenue totaled 23.106 billion euros, down 17.7 pct from budget targets, while the total budget revenues amounted to 25.940 billion euros, down by 14.7 pct from target. Tax revenues totalled 22.678 billion euros, down 13.6 pct from target.