Government plans cost-of-living measures, debt relief and tax cuts
The government is preparing a new package of measures aimed at easing pressure on households from rising inflation and energy costs linked to tensions in the Persian Gulf, focusing on tackling living costs, supporting indebted households and reducing taxes.
As part of the strategy, the government this week launched the posokanei.gov.gr platform, allowing consumers to compare prices of multinational-brand products sold in Greek supermarkets with those in other European countries. Prime Minister Kyriakos Mitsotakis said prices in Greece that significantly exceed those elsewhere in the European Union must be clearly justified.
The government is also maintaining controls on profit margins for essential goods and continuing market inspections as part of efforts to contain price increases.
On debt relief, authorities are expanding support for vulnerable borrowers through a new 72-installment repayment scheme and changes to the out-of-court debt settlement mechanism, lowering the minimum debt threshold for participation to €5,000. The government is also moving ahead with the creation of a Property Acquisition and Leaseback Agency aimed at strengthening protection for primary residences.
A further package of tax cuts is expected to be announced by Mitsotakis at the upcoming Thessaloniki International Fair, with measures expected to focus on reducing direct taxes and boosting disposable income.
Government officials have said the initiatives are designed to help households cope with inflationary pressures and economic uncertainty stemming from disruptions to global energy markets.
