The Greek economy will run at a satisfactory pace of growth, but certainly at least one unit is limited due to the war, said Deputy Finance Minister Theodoros Skylakakis speaking on SKAI TV and the show “Unmatched”.
He noted that the revenues from the Special Consumption Tax have decreased in the last two months by 20 million euros, while the revenues from VAT have increased.
Mr. Skylakakis also said that the key to accuracy at this time is the prices of natural gas, which have been shaken “in the air” in the last 10 years, from 20-25 euros have gone today to 108 euros.
“Every 10 euros that goes up is 600 million euros to the detriment of the Greek economy. “It hits all the electricity bills, which are based on natural gas,” he noted.
As for the wheat, he said that it has also skyrocketed, “from about 600 euros that were in international prices, it has gone to 1000. The oil is in a slightly better condition. “Over time, the highest price that had reached, in 2014, was about 110 euros, it fell between 60-80 euros in the intervening years, it fell even more in the pandemic and now it is around 110 euros”.
For corn, he said that it has risen from 600 euros to 810 euros. “We are interested in corn because it directly affects meat prices. It is the basic feed. “The whole key is war,” he said, adding that “markets are discounting the war, now they are discounting the possibility of a long war.”
“Russia and Ukraine are major exporters of grain and as long as the war lasts we will see a pressure on inflation mainly through electricity,” said Mr. Skylakakis.
Referring to the fuel, he said that it is all imported, with the exception of 1,000 barrels from Prinos. “This means that in a period of high prices, we prefer to give money to the most vulnerable instead of subsidizing imports. “If there is going to be a tax reduction, it will be more about the most vulnerable,” he noted
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