Announcements are also expected for the accuracy on the shelf. Among those considered is the reduction of VAT on some products, but a new check of accuracy to the most vulnerable seems more likely.
By Chrysostomos Tsoufis
With the announcement of the growth rate for the first quarter of the year at 12 noon, a crucial 15 days for the economyat the end of which the government will have a good idea of the margins it has at its disposal to proceed with additional support measures for households and businesses.
In the midst of a growing number of analyzes for … the Eurozone flirting with the recession this year, the Greek government estimates growth rate 3.1% and the announcement by ELSTAT acquires critical importance in this environment. If the data do not live up to expectations, automatically the … defensive reflections of the government will be activated, especially when countries such as Italy, Denmark and Sweden already started the year with negative signs on a quarterly basis while France had zero growth.
The landscape around Thursday’s inflation announcements is much clearer. ELSTAT will announce a price close to 12% for May. Of particular interest is the announcement on food since according to Eurostat, in April the increase in food prices was the highest in the country which shows the magnitude of the problem.
Around June 15, the GLC will announce the preliminary data for budget execution in May. It is expected that the revenue overrun observed since the beginning of the year, will continue and will expand as among other things the first reports speak of a May even better than that of 2019 in terms of tourism.
Having now an overall picture of the economy, the Ministry of Education will be able to calculate them fiscal strength to act accordingly. Central to the announcements that are expected before the change of the month will be the fuel. Given that horizontal tax cuts are excludedunder discussion are the Fuel Pass 2 and the form it will take, subsidy on the pump as in diesel and interventions specific to the islands such as the expansion of the transport equivalent.
Announcements are also expected to be exact on the shelf. Among those considered is the reduction of VAT on some products, but a new check of accuracy to the most vulnerable seems more likely.