Development Minister Adonis Georgiadis spoke to MEGA about the progress of the household basket.
Speaking on the morning show, the Minister of Development referred to the household basket, stressing that the profit for each household amounts to 1004 euros a year.
According to Mr. Georgiadis, in the first week of the operation of the measure the basket cost 125 euros, while 8 weeks later it now costs 107.5 euros, showing a decrease of 14%.
“There is no profiteering, prices have gone up due to inflation. The rise in inflation is not the result of profiteering, it is due to objective reasons”, said Adonis Georgiadis and added that the household basket failed to stop inflation.
Households are “buckling” under the weight of inflation and unable to meet their obligations due to rising prices. The basic salary may have increased, but prices have skyrocketed. According to Adonis Georgiadis, the government took a series of measures, such as the household basket, reducing insurance contributions and abolishing the solidarity contribution, in order to indirectly boost wages.
“The government strongly believes in reducing taxes. We have reduced 26 taxes and social security contributions. In the midst of inflation, we cannot do general tax reduction measures anymore, the Eurogroup and the markets do not allow it,” he said.
There are many complaints from citizens living in rural areas and on the islands, who report that they cannot use the household basket because there are no large supermarket chains in their area. Adonis Georgiadis noted that there are some islands that have not been covered by the household basket, which are few, while the measure has covered over 90% of the population.
“95% of the population has a household basket. I accept that some remote place may not have a large supermarket. We cannot go to every island and build a supermarket. The reason we have put supermarkets in the household basket and not the smaller chains is very simple. If I put the smaller shops in the ‘basket’ I will destroy them,” he said and then explained:
“We reward the efforts of supermarkets to lower prices. If I put the small shops, which cannot compete with the prices of the supermarkets, we will see that the mini markets will always be more expensive. Will it do them good or harm?” he said.
Latest News
German Min. Lemke: «Climate crisis poses immediate threat to our health; well-being»
Europe recorded more days of “extreme heat stress” (with the ‘feels like’ temperature exceeding 46 degrees Celsius) than ever before
OECD: Major Spike in FDIs in Greece over 2021-23 Period
The international organization calculates an average of 6.7 billion USD in Greece over the 2021-2023 period, up from 4.15 billion USD in 2017-2019
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