With a visit to Ministry of Finance gave the signal for the start of the work of the new government o Kyriakos Mitsotakiseffectively putting “in front of the engines” of the economy, defining as a key priority the improvement of the real economy and the disposable income of the citizens.

Kyriakos Mitsotakis set the government’s main goals for the new 4-year period, focusing on specific axes: 1)Growth, 2)Increase wages, 3)Crack tax evasion, 4)Further cut taxes.

He added that the goal is to expand the measures of the market pass and the household basket, which worked positively for society.

The prime minister links the improvement of the real economy and living standards to growth, stressing that there is a plan for the coming years. Growth, through investment, will reduce unemployment, increase labor needs and, by extension, wages, while cracking down on tax evasion will create more fiscal space to reduce taxes borne by employees and pensioners, who do not they can hide income.

“We are optimistic about the course of the economy, about the high growth rates that we want to achieve, which are a central goal of our economic policy so that we can implement the essential convergence with Europe. We are optimistic about the gradual transformation of the economic model of the Greek economy into a model that will be more productive, more extroverted, more innovative. And we are, of course, absolutely convinced that this economic development will ultimately have an impact, a substantial impact on improving the incomes of all Greeks, primarily our low-wage fellow citizens.” the Prime Minister emphasized during his visit to the Ministry of Finance and added:

“Before the summer vacation of the Parliament, the first bill of the Ministry of National Economy and Finance will have been passed, in which the central pre-election commitments presented by New Democracy before the elections, concerning next year, will be reflected in legislation 2024. Many of them will have a significant economic impact on the incomes of citizens, and this bill will be passed, as I said, before the beginning of August”.

What does the ND program for the economy include?

Kyriakos Mitsotakis stated that all pre-election announcements, which are also included in the program of New Democracy, will be implemented.

More detail:

-For salaries:

An increase in the average salary over 25% within the four years 2023-2027 (to €1,500 from €1,170) and an increase of the minimum wage to €950 within the four years. The minimum wage will be adjusted based on the average full-time wage in the private sector.

Salary increase of civil servants and reform of their payroll from 1/1/2024.

-For insurance contributions:

Gradual reduction by one additional unit of insurance contributions and non-salary costs. Less contributions, more pay for everyone.

-For pensions:

New 3.4% increase in pensions from 1/1/2024. Supplementary pensions and lump sums are awarded within two months.

-For the pretense fee:

20% gradual reduction of the pretension fee in 2025, 30% in 2026 and abolition by the end of the quadrennial in 2027, while increasing tax compliance.

-For the tax-free:

From 1/1/2024 the tax-free amount increases by €1,000 for families with children.

-The full exemption of former beneficiaries is permanent Pensioners’ Social Solidarity Allowance (E.K.A.S.)from their participation in the pharmaceutical expenditure.

-For taxation:

Combating tax evasion by conducting automatic digital audits, intensifying tax audits and by doubling electronic transactions with the universal use of POS for making payments.

Re-adjustment and rationalization of the documentation system (reduction of subsistence documentation by approximately 30% on average) from 1/1/2025, following the mandatory implementation of myData and the strengthening of electronic transactions.

Payment of welfare benefits via debit cards.

Extension of reduced VAT on passenger transport, coffee and non-alcoholic drinks, cinema, gyms, dance schools and tourist package until the end of 2023.

New procedure for the immediate refund of VAT with the creation of a new information system, in order to strengthen liquidity in the market.