Of Chrysostomou Tsoufi
The budget spreads smiles of optimism as revenues, driven by inflation (since against … legends, consumption does not seem to fall) in the first 4 months of the year are almost € 1.8 billion more than estimated.
In combination with the significantly reduced expenses by 960 million, they reduce the primary deficit to 811 million, against estimates for 2.45 billion €.
Nevertheless, YPOIK is in no hurry to celebrate and refer to September any discussion of additional benefits. “There are no other measures besides the ones we have already taken, there is no fiscal space at the moment”, notes a top official of the Ministry of Finance.
By September at YPOIK they will have a clear picture of the course of tourism revenues. In addition, the course of the price of natural gas is crucial. As the price drops from € 100, so does the fiscal space. Respectively, every euro over 100 is increasingly tying the hands of the government.
Additional resources could be obtained from Brussels. On Wednesday, the Commission will make announcements about a possible expansion of its toolkit to deal with the energy crisis. Sources in the Ministry of Finance did not rule out a redirection of the loans from the Recovery Fund that have been left unclaimed.
At the moment, they are estimated at more than € 240 billion, however, which is expected to decline as it is expected that at least Spain and Poland will make use of them.
However, if the possibility of redirecting resources is given, Government officials stressed that Greece would request additional loans, but clarified that the money could not be directed to benefits but only to investments.
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