Extra social assistance: Suppport for pensioners and vulnerable groups
This payment will be funded by the "Temporary Solidarity Contribution" to be paid by refinery companies for the year 2023. The contribution will be calculated by applying a 33% tax on profits exceeding 120% of the companies' average profits from 2018 to 2021.
Temporary Solidarity Contribution
Declarations for the Temporary Solidarity Contribution must be submitted by September 30, 2023, with payments due by February 28, 2025. The contribution applies to large companies involved in the extraction of coal, crude oil, natural gas, and the production of petrochemical products. The government expects to raise a total of €243 million, which will be used to support economically disadvantaged households before Christmas 2024.
2024 Budget Forecasts and Economic Goals
The Ministry of Finance is targeting a primary budget surplus of over 2.1% for 2024. With tourism revenues expected to reach €22 billion, the surplus is projected to range between 2.4% and 2.5%. This would provide a solid financial base for 2025 and allow for an additional €550 million in state spending.
Groups Eligible for Support
The extra social assistance payment in December is expected to benefit a total of 1,899,000 people. The specific amounts and groups eligible for support are as follows:
- Pensioners with a primary pension of up to €700 will receive €200.
- Pensioners with a pension between €700.1 and €1,100 will receive €150.
- Pensioners with a pension between €1,100.1 and €1,600 will receive €100.
- An additional payment for 767,000 child benefit recipients.
- 37,000 people receiving disability benefits will receive €200.
- 185,000 OPEKA disability benefit recipients will receive €200.
- 35,000 uninsured elderly will receive €200.
- A 50% increase in the guaranteed minimum income for 205,000 beneficiaries.
- These measures aim to improve the living conditions of low-income citizens through the government's social welfare and budget planning efforts.
