Staikouras: We will cover 70-80% of the increase in electricity in the 2nd half of 2022

Staikouras: We will cover 70-80% of the increase in electricity in the 2nd half of 2022

THE Minister of Finance, Christos Staikourasspoke to Mega about the actions the government has planned to alleviate households and businesses that are bending under the weight of increases and price increases.

For a new fuel subsidy: “I estimate that a financial space will be created”

Responding to whether there will be a new fuel subsidy, Mr. Staikouras said that “it is too early to discuss this. I will not respond to any additional measures other than those we have announced. They have not been implemented yet. Now we are building the platform to performset up households and businesses for electricity. Until this is implemented, until fiscal space is created again, I can not add anything. As has been the case for the last three years, we first plan, find the resources, and then announce the measures. We will see what the situation will be in the next period, I estimate that a fiscal space will be created, and we will act accordingly. There is a problem, how we will deal with the problem is a discussion we will have with the Prime Minister».

“Greece has given twice as much resources as the European average for the energy crisis”

«It would be extremely easy for me to come and suggest tax cuts and bonus increases. I have a responsibility. The latest report of the European Commission says that Greece has so far given twice the resources compared to the European average to deal with the energy crisis. “Those who easily suggest giving more, suggest that our deficit be increased, mortgaging the future of the country,” he added.

Regarding whether the government is considering some permanent support measures, or whether it will continue the subsidy policy, the Minister of Finance noted that “A combination will take place. Each time we make an assessment of the current situation, and depending on the fiscal space we will proceed by adding or enriching the existing measures, and there will be permanent mechanisms. An example of this is ENFIA. This week the citizens will pay the first installment. This year, citizens will pay 380 million less than ENFIA. This is a permanent measure».

“It is preferable not to reduce taxes on fuel because this has no social justice”

Regarding the excise tax, and if there are thoughts for its reduction, he explained that “The letter received from the European Commission from all the finance ministers in Europe says that it is preferable not to reduce taxes on fuel because this is not social justice. Especially as long as the crisis lasts. It’s best to get the most out of tax revenue from increased VAT to help targeted households and businesses».

“We have not ruled out a reduction in VAT on food”

«We have not ruled out the reduction of VAT on food. The next phase will be the phase in which we will create a fiscal space again and we will distribute it fairly to the Greek society.“, Continued Mr. Staikouras.

Scenarios for early elections

Responding to whether early elections are coming, he clarified that “eThe Prime Minister has given the appropriate answer for the elections in 2023. Anyone else who says something different is outside the context that has been said. The economic policy has been built in terms of 4 years».

What will the abolition of the revaluation clause mean for the accounts?

Regarding the “hot” issue of the days, the electricity bills and the adjustment clause, Mr. Staikouras said: “There are two previous stages before July 1st and the abolition of the adjustment clause. The first concerns to date. We say that those of you who paid for your first home, 60% of what you paid as a cost increase we come and cover. In June, citizens will see 280 million euros in their bank accounts. For May and June we subsidize more bravely. We extend the subsidy over 300 kilowatt hours for non-first and main residences. This means that we will cover the households with a percentage of 86% of the increase that they will have in May and June. For businesses we increase their subsidy and 80% of the increase will be covered».

“We will cover 70-80% of the increase in electricity in the second half of 2022”

«From July onwards, we plan and launch a more permanent mechanism of double intervention in the wholesale and retail price. At the wholesale price, this is done in the way that pricing is done, so that the excess revenue generated and those that go to the energy transition fund, are automatically returned to the Ministry of Finance so that we can subsidize the retail price even more generously in order to stabilize it. coverage, covering 70-80% or more of the increase in electricity that will exist in the second half of 2022“, He added.

Mr. Staikouras, responding to whether there will be a new check of accuracy, noted that “We will discuss everything at the right time.”

Refundable deposit: When will it be paid and how

Speaking about when the repayable advance will be paid, Mr. Staikouras said that “we have announced extensions, it will be until the end of July and for anyone who wants to pay all the repayable advances, or part of them with a 15% discount. We lent 8.3 billion euros to businesses, we borrowed 8.3 billion euros as a state with low borrowing costs, and we expect to get back 3 billion euros. The rest is a “haircut”.

«We are launching the extension of the reduced VAT that expired in June 2022 for transport, restaurants, cinemas and gyms until the end of the year“, Noted the Minister of Finance in closing.

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