On four axes the initiatives that will be taken by the Ministry of National Economy and Finance in the next period are part of the specialization of the Prime Minister’s announcements at the TIF, as announced at a press conference by the Minister Kostis Hatzidakis and Deputy Ministers Haris Theocharis and Thanos Petralias.

In this context, there will also be new measures amounting to 1 billion euros to support citizens’ income.

In particular, as Mr. Hatzidakis said, the 4 axes concern:

A) -Banking system, with intense competition and increased liquidity for households and businesses.

B) -Tackling tax evasion, with an emphasis on new technologies and limiting cash.

C) – Supporting citizens’ income, staying true to achieving a primary surplus of 0.7% of GDP this year.

D) -Measures for natural disasters.

Regarding banks, the minister referred to 5 axes:

1. Expansion of the granting of loans (even mortgage loans) also from non-banking institutions.

2. Continuation of the “Hercules” program for pending issues in the systemic banks and in the 5th pillar.

3. Submission of a draft law for mandatory rules of transparency and obligations for servicers.

4. Extension, with priority to the transactions of independent professionals with citizens, of the banks’ initiative to make interbank transactions up to 500 euros without commission.

5. Reduction of the State’s participation in the HFSF.

For his part, Mr. Theoharis referred to 10 measures to combat tax evasion.

Specifically:

1. The interconnection of cash registers with POS will be completed in the first months of 2024. It concerns approximately 450,000 businesses.

2. Electronic invoices will become mandatory from 2024. Revenues cannot fall short of those declared on the electronic platform. Expense invoices will only be counted if they have been transmitted to MyData.

3. Mandatory in 2024 the MyData application.

4. Mandatory possession of an electronic payment system (EFT/POS) and from the rest of the retail sectors.

5. Mandatory real estate purchases and sales only with bank payment systems.

6. Activation of the digital consignment note, piloting in early 2024 and fully by the end of next year.

7.Increasing the fine for using cash over 500 euros, to double the transaction.

8. Payment within 2024 of the welfare allowances through debit cards.

9. Exclusion of smuggling offenders from cooperation with all fuel trading companies.

10. Interventions on digital platforms. Particularly:

-VAT and resident tax for legal entities.

– Mandatory start of activity for natural persons with more than three short-term rental properties.

-Austerization of the definition of short-term rental. E.g. in case all the apartments of an apartment building are available, it will be considered tourist accommodation.

-Austerization of controls and fines.

Mr. Petralias mentioned and in 13 measures, for the income support of citizens:

1. New pension increase of around 3% from 1/12024, at a cost of 400 million euros.

2. Extraordinary aid of 100-200 euros to pensioners with a personal difference. It concerns approximately 250,000 people, with a budgetary cost of 107 million euros.

3. Increase from December by 8% of the minimum guaranteed income. It concerns approximately 225,000 people, at a cost of 43 million euros.

4. Return from October of the EFFK to agricultural oil.

5. The heating allowance will be the same as last year, with two differences: For each child the allowance increases from 3,000 to 5,000 euros, while freelancers with an annual turnover of up to 80,000 euros will also be entitled. There will be no subsidy at the pump and the measure will not be horizontal, but only for those who really need it.

6. Aerial rescue program of six helicopter bases, with an annual cost of 25 million euros.

7.Increase of the overnight accommodation allowance of the new payroll uniforms from 1/1/2024, with an annual cost of 12 million euros.

8.Increasing the flying allowance for 300 firefighting aircraft pilots.

9. Extension of the shopping card (market pass) until the end of the year for the affected areas of Evros and Thessaly, with an increase to 44 euros.

The cost of the new measures for the two years 2023-2024 amounts to 1 billion euros and in total for this period to 2.5 billion euros, without compensation for natural disasters.

Relatively with measures for natural disastersthese include:

1. Supplementary budget of 600 million euros.

2. Separate account from 1/1/2024 amounting to 600 million euros per year in the National Public Investment Program.

3.Inclusion of new infrastructure projects up to 2.2 billion euros in the NSRF and the Recovery Fund.

4.Climate change fee, complementary to the accommodation fee, also for short-term leases, with a benefit of 240 million euros per year.

5. Mandatory insurance (of buildings, reserves, etc.) from 2024 for medium and large companies with an annual turnover of more than 2 million euros. It concerns 16,268 legal entities with 87.5% of the total turnover.

6. Mobilization of private initiative.