In the shadow of Daniel and Elias, the draft budget for 2024 is being submitted to the Parliament tomorrow, which essentially brings the economy back to normal after four difficult years marked by the pandemic, the war in Ukraine and precision.

According to what has been made known, both by Prime Minister Kyriakos Mitsotakis and by the Minister of National Economy and Finance Kostis Hatzidakis, the country will fully comply with its obligations and thus its fiscal performance will move within the framework of the Stability Program.

The basic forecast will be the achievement of a primary surplus of 2.1% of GDP for 2024, while for this year, i.e. 2023, it seems – despite the significant difficulties that arose due to natural disasters – a primary surplus of 0.7% is expected to be recorded.

The draft budget will include significant liquidity injections to approximately 3 million households totaling 2.5 billion euros. Of these, the increases for civil servants stand out after 14 years, the increases for the second year in a row for retirees and of course the payment of extraordinary and permanent benefits.

It should be noted that the government has its eyes on the next two assessments of the Greek economy. One is scheduled for October 20 by S&P Ratings and the second on December 2 by Fitch Ratings. There are reasonable expectations that one of the two, if not both, will give Greece the coveted investment grade rating.

In this context and despite the difficulties that have arisen, the government wants to send a clear message to the markets and investors that it will fully respect its commitments and will not deviate in the slightest

Let’s look in detail at the entire society’s support program, starting from today and extending until next Spring.

So according to the schedule:

1. Interventions in 2023

* Market Pass: The first payments for the emergency aid to the beneficiaries for the months of August, September and October began already on Friday. The second payment is scheduled for the beginning of November, while those affected in Thessaly and Evros will also receive a benefit for the months of November and December, which will be double.

* Agricultural oil: Farmers will collect the refund of Excise Duty for 2023.

* Youth Pass: Around 200,000 young men and women aged 18 and 19 will receive the 150 euro allowance.

* Personal difference allowance: It will be granted once to 750,000 pensioners of all funds with a personal difference of more than 10 euros, an extraordinary allowance of 100 to 200 euros will be paid depending on the amount of pensionable earnings.

* Minimum guaranteed income: The amount that 225,000 vulnerable households will receive is adjusted by 8%. The new increased amounts will range from 216 to 432 euros.

* Heating allowance: The payment of the aid will start from 100 – 1,000 euros to households that meet the income and property criteria.

2. Interventions in 2024

* Increases for civil servants: After 14 years, 660,000 civil servants will receive from 1 January 2024 increases ranging from 6.5% to 10.5% on average in their basic salaries and position of responsibility allowances, while hundreds of thousands of civil servants with children will receive additional increases due to the increase in family allowances. Thus each civil servant will receive an additional 1,292 euros gross or 800 euros net per year. If the abolition of the special solidarity levy, the 1% levy in favor of the Public Employees’ Welfare Fund, the increase in the tax-free allowance for each child and other interventions are taken into account, then the average annual benefit per employee rises to 2,084 euros gross or 1,476 euros net.

* Increases for pensioners: About 1.8 million pensioners without a personal difference or with a personal difference of less than 10 euros will see increases of at least 3% in their monthly earnings.

* Increase in special allowances: For freelancers and farmers the maternity allowance from 4 months will be set to 9 months and at the level of the minimum wage from 150 to 200 euros which is today.

* Increase in the tax-free limit: It increases by 1,000 euros and concerns approximately 1.3 million employees and pensioners with children. The relief on an annual basis ranges from 90 euros to 220 euros depending on the number of children, while the main profession of farmers will also have a corresponding reduction, but this will be seen in the statement they will receive in 2025 after submitting the tax return for their income 2024.

* ENFIA: 10% discount on the 2024 ENFIA, for more than 1 million natural persons who have insured their residence against natural disasters (fire, earthquake, floods).

* Free medicines: The exemption of former E.K.A.S. beneficiaries is made permanent. from their participation in the pharmaceutical expenditure.

* Capital market: The fund raising tax is reduced from 0.5% to 0.2% and the stock exchange tax is reduced by 50%.