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Greek economy has positive dynamism, FinMin says

Speaking in Parliament, the Greek Finance minister made special mention to measures supporting the Greek society, focusing on the middle class and lower classes, such as a reduction in a special property tax, a new tax legislation, a heating subsidy, expanding the tax base, etc.

The 2020 budget is optimistic but realistic and reflects the implementation of the government's commitments, Staikouras said, adding that in the first four months of governance "we managed to cover a significant fiscal space for 2019, worth 396 million euros, left by the previous government and we have agreed with the institutions without any unecessary "yes" or "no" on the fiscal result of 2020".

Speaking in Parliament, the Greek Finance minister made special mention to measures supporting the Greek society, focusing on the middle class and lower classes, such as a reduction in a special property tax, a new tax legislation, a heating subsidy, expanding the tax base, etc.

Referring to a draft tax bill tabled by the government in Parliament, Staikouras said a reduction in income tax for lower incomes, a reduction of corporate tax, lower social insurance contributions for workers, introducing a low tax rate for agricultural cooperative groups, offering tax incentives to enterprises for the distribution of shares to workers, lower VAT on infant items, offering financial support for each child born from 2020, focused actions for building activity, all improving the available income of citizens, particular middle class citizens. The Finance minister said the biggest problem of the Greek economy in the previous years, an investment gap, will be reversed and noted that a medium-term goal of the new policy is investments, as a percentage of GDP, to gradually return to pre-crisis levels the soonest possible.

Staikouras said that the Finance ministry schedules the voting of a new tax bill in Parliament within the next three weeks, along with completion of a "Hercules" plan for non-performing loans.

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