Greek Prime Minister Unveils Tax Cuts Ahead of Election
Greek Prime Minister Kyriakos Mitsotakis announced a 1.6 billion-euro tax cuts package aimed at reducing tax rates for some 4 million citizens, particularly benefitting the middle class, young people, large families, and pensioners. These cuts, influenced by better-than-expected tax revenue, aim to address inflation and demographic issues.
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During the Thessaloniki International Fair, Greek Prime Minister Kyriakos Mitsotakis announced a comprehensive tax cuts package totalling 1.6 billion euros. These reductions are set to benefit approximately 4 million Greek citizens, including middle-class households, young people, and large families.
While unveiling the tax package, Mitsotakis underscored its significance in improving disposable income amidst persistent inflation and a severe demographic problem, characterized by a declining birthrate. The announcement comes amid preparations for national elections scheduled by July 2027.
Despite spending constraints imposed by the EU, the cuts are funded by surplus tax revenue. The package also extends reduced tax burdens for residents of small islands and aims to lessen housing shortages. Meanwhile, peaceful protests, drawing over 16,000 participants, took place simultaneously, voicing anti-government sentiments and support for Palestinians.
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