Pensioners will also see increases in their salaries, while employees and pensioners with children will have a larger tax deduction due to an increase in the tax-free limit by 1,000 euros. Fund of 352 million euros for the “social solidarity allowance”
It is being tabled this morning in Parliament the final draft of the budget for 2024, by the Minister of National Economy and Finance Kostis Hatzidakis.
A key element of the new budget is the provision for civil servant pay rises after 14 years, an increase that will average 1,476 euros on an annual basis.
Pensioners will also see increases in their earnings by approximately 3.05%, while employees and pensioners with children will have a larger tax deduction due to an increase in the tax-free limit by 1,000 euros which translates into an increase in net earnings.
In the content of the new budget the €352 million fund for the “social solidarity allowance” for vulnerable households will be included which was announced last Thursday and will be granted in December to 2.3 million, while budget spending in sensitive sectors, such as health and education, will be boosted by the revenues provided by the new measures to combat tax evasion.
Winners and property owners who have insured their homes against natural disasters will receive a 10% discount on their ENFIA account.
The 2024 budgetincorporates permanent tax breaks and income support of €1.6 billion for over 3 million households while the primary surplus is forecast at 2.1% of GDP compared to 1.1% in the 2023 budget.
Finally, according to information, the measure of reduced VAT rates for transport (except taxis), the tourist package, gyms, dance schools, tickets to theaters and cinemas is permanent, while the reduced VAT rate is maintained for another 6 months until the end of June 2024 in cafes and taxis.
I am Janice Wiggins, and I am an author at News Bulletin 247, and I mostly cover economy news. I have a lot of experience in this field, and I know how to get the information that people need. I am a very reliable source, and I always make sure that my readers can trust me.