Tuesday, May 30, 2023
HomeEconomyGreek PM Mitsotakis pledges more cost-of-living support: sources

Greek PM Mitsotakis pledges more cost-of-living support: sources

ATHENS (Reuters) – Greek Prime Minister Kyriakos Mitsotakis is expected to announce further funding on Saturday to ease the energy crisis and soaring inflation, a government source said. Impact on families in the country.

After Russia invaded Ukraine Soaring gas prices sparked a major energy crisis across Europe, prompting some governments to roll out multi-billion-euro packages to The cost of protecting homes and utilities has risen.

Since last year, Greece has spent about 8 billion euros ($8 billion) to subsidize electricity bills.

Mitsotakis, a conservative facing parliamentary elections , said on condition of anonymity, that he will be in the northern city of Thessaloniki’s annual economic policy speech pledged to maintain support until at least the end of the year.

In an emergency meeting on Friday, EU energy ministers tasked Brussels with drafting proposals within days to limit revenue for non-gas energy producers and help power companies stay afloat as they try to protect citizens Protection from high prices.

Greece is the most indebted country in the euro zone, after a decade-long financial crisis, in out of a third international bailout, relying entirely on

Last month, the country withdrew from what creditors called enhanced oversight, meaning greater freedom in implementing economic policy Spend.

Thanks to stronger than expected growth in tourism revenue this year, the government has decided to use any additional fiscal space to fund electricity subsidy.

Mitsotakis is also expected to announce a six-pronged plan to help young people rent or buy a home.

($1=0.9961 EUR)



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