Mitsotakis Unveils €1 Billion Plan for Housing, Pensioners, Public investments

Greek Prime Minister Kyriakos Mitsotakis has announced a new set of economic support measures, worth 1 billion euros, aiming to provide financial relief to citizens.

The announcement follows the publication of Greece’s fiscal performance data by ELSTAT and Eurostat, with the 2024 surplus reported at 11.4 billion euros, or 4.8% of GDP. This surplus–which Mitsotakis attributed to dynamic growth, efforts to combat tax evasion, and structural fiscal measures– has resulted in additional state revenue.

In his televised address on Tuesday, Mitsotakis stated that these new measures reflect the government’s ongoing success: “This is a result of our consistent efforts to combine economic recovery with social care, all built on a foundation of fiscal stability,” he said. “The latest fiscal figures justify a policy that has led to tangible results, strengthening the country’s internal stability while creating opportunities for citizens.”

Key Support Measures Announced:

1. Annual Rent Refund: Starting in November 2025, the government will refund one month’s rent to tenants each year. This measure is aimed at alleviating the financial burden on renters, particularly at a time when Greeks Greek households face the highest housing cost burden in the EU.

2. Financial Assistance for Low-Income Groups: Approximately 1.5 million low-income pensioners, uninsured elderly citizens, and individuals with disabilities will receive a permanent, net payment of 250 euros annually, to be distributed at the end of each November. This initiative seeks to support vulnerable groups facing economic hardship.
3. Public Investment Program: An additional 500 million euros will be allocated to Greece’s Public Investment Program. This funding will accelerate public works and social initiatives across the country, while also boosting investments to create more job opportunities amid global instability.

While these measures were couched as a response to Greece’s improved economic outlook, they may also serve as a strategic move to boost public approval, particularly as Greece’s ruling New Democracy government has seen its support drop sharply from 38% in January 2025 to 26% in mid April. More than seven out of ten (71%) respondents in the latest polls believed the country was headed in the “wrong direction”.

The government’s economic staff is expected to release further details of the measures later today, providing clarity on their implementation and the anticipated impact on the national economy.

Source: Tovima.com