The Hellenic Parliamentary Budget Office on Thursday unveiled its report for the first quarter of 2022, warning that any income support measures should be temporary, targeted and financed by additional revenues, so as not to further burden Greece’s public debt.
Parliament’s budget office also referred to a need for an unwavering adherence to fiscal stability, as a necessary condition for the country to avoid the worse consequences of international economic instability.
Additionally, the report emphasized that interventions taken to date, such as those implemented during the pandemic, have transferred the cost exclusively to the state, or in other words, to responsible taxpayers, current and future ones.
The report also notes that recent decisions by the government to tax extraordinary profits recently reported by electricity retail providers, as well as to impose a ceiling on the wholesale price of electricity as of July, mark a change in direction, i.e. transferring a portion of the cost of interventions to power producers.
Latest News
How TikTok Lost the War in Washington
Combination of coordinated efforts by its critics and missteps by the company led to the law forcing a sale or ban of the popular app
Greece in the Top European Destinations for Aussies in 2024
This year 16% of surveyed Australians are planning a trip to Greece
Developing the Blue Carbon Economy in Greece
Can Greece make money by protecting its marine environment?
EIB Appoints Greece’s Ioannis Tsakiris as New VP
Ioannis Tsakiris started the new role May 1 after spending 15 years at the European Investment Fund (EIF) and serving as Greece’s Deputy Minister for Development and Investments
Two Greek Beaches in Top 50 in the World
Both Greek beaches were on the list of the best beaches in Europe too
Eurostat: Greece 20th out of 26 European States in Hourly Average Wage
According to figures released by Eurostat, the Benelux Grand Duchy of Luxembourg, one of Europe’s hubs for finance, is in first place
Greek Property Renovation Surge amid Economic Constraints
This has led to a notable escalation in renovation costs, with average prices per square meter exceeding previous norms and reaching even 1,000 euros in premium locations
RRF: Additional €5.1bln Funds for Subsidies to Greece in 2025
By April 22, funds totaling 5.75 billion euros had been transferred for approved projects of the Recovery Fund to entities within and outside the general government and final recipients
OECD: Greek Economy Resilient with 2% Growth Forecast for 2024
However, the OECD highlights challenges including the need to enhance productivity and fiscal adjustment due to high debt levels.
Challenges and Delays in Greece’s Hydrocarbon Exploration
Sources disclose that the petroleum companies holding the concessions are seeking partners to jointly invest and share the costs of exploration and drilling.